CARES Act-Emergency Financial Aid Grants to Students Required 7th 45-day Report May 17, 2021.

On March 27, 2020, the President of the United States signed the CARES Act (H.R. 748), which provides emergency relief funds to organizations and individuals affected by the coronavirus pandemic.

The Higher Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES Act, provides funding to institutions of higher education “to prevent, prepare for, and respond to coronavirus.”

The following information is provided by Futura Career Institute as required by the Department of Education (“ED”) in order to comply with the reporting requirements under the CARES Act. This is Futura Career Institute’s 7th 45-day progress report and presents information as of May 17, 2021. Additional reports will be provided every 45 days.

1. An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
   
   Futura Career Institute signed and returned the Certification and Agreement to the U.S. Department of Education on May 6, 2020, for the HEERF Funds for Emergency Financial Aid Grants. Futura Career Institute received its grant award notification dated June 29, 2020. In keeping with the terms of the certification, Futura Career Institute will use no less than 50% of the funds received, as stated under 18004(c) of the CARES Act, to provide Emergency Financial Aid Grants directly to students.


2. The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
   
   Futura Career Institute received a total of $ 374,889.00 under Section 18004(a)(1) of the CARES Act, of which $ 187,445.00 is to be provided directly to students impacted by campus disruption due to the Covid-19 crisis.


3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the 30-day Report and every 45 days thereafter).
   
   As of May 17, 2021, $ 187,445.00 in awards have been made to students under Section 18004(a)(1) of the CARES Act.


4. The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
   
   Futura Career Institute estimates approximately 220 students are eligible to participate in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.


5. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
   
   As May 17, 2021, the total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 300.


6. The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act. Determining Eligible Students:
   
   
   • US Citizen or eligible non-citizen
   • Must have a 2019-2020 FAFSA on file or eligible to complete it.
   • Must have been meeting Satisfactory Academic Progress.
   • Futura Career Institute will use the HEERF1.0 left over prior December 2020 in accordance with HEERF2.0 rules.
   
   Futura Career Institute used the list of eligible students based on the criteria above and included student’s expected family contribution (EFC) to help assess need. Based on eligible students’ population a maximum award per students was established as follow:
   
   
   • $800 will be distribute to students enrolled in a 1200 clock hours program.
   • $650 will be distribute to students enrolled in a 720 clock hours program and a 36-credit program.
   
   In addition, future awards and criteria will depend upon the amount of funding remaining.


7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.
   Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants is posted at www.futuracareerinstitute.net