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CARES Act

Higher Education Emergency Relief Fund Report - Emergency Financial Aid Grants to Students

Date 5/27/20

Wade College (OPE ID: 01013000) received education stabilization funds under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Public Law No: 116-136. This Fund Report applies to the student portion received under the Higher Education Emergency Relief Fund that is designated exclusively for emergency financial aid grants to students.

The institution has received these funds and is distributing them in accordance with the CARES Act and implementing guidance.

The institution is making the below information available for transparency purposes and in compliance with the U.S. Department of Education’s (“Department”) Electronic Announcement of May 6, 2020.  For questions or concerns regarding this Fund Report, please contact Lisa Hoover, Director of Finance and Compliance, at lhoover@wadecollege.edu.

  1. The institution signed and returned to the Department the Certification and Agreement [for] Emergency Financial Aid Grants to Students. 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.
  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 is $ 134,024.
  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 this Fund Report is $ 79,121.
  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 under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 172.
  5. The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is 127.
  6. The methods 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 are provided at Attachment A.
  7. Any instructions, directions, or guidance provided by the institution to students concerning the emergency financial aid grants are provided at Attachment B.

Downloadable Documents

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Attachment A

Wade College School Policy CARES Act download

Attachment B

Cover Letter Emergency Financial Aid Grants to Students download
Emergency Financial Aid Grants to Students under the CARES Act download
Funds Acknowledgment Emergency Financial Aid Grants download