Higher Education Emergency Relief Fund (HEERF) Reporting

HERRF Student Portion 4Q 2020 disclosure

HERRF Student Portion 1Q 2021 disclosure

HERRF Student Portion June 2020 disclosure

HERRF Student Portion August 2020 disclosure

Quarterly Budget and Expenditure Reporting – 9-30-2020

Higher Education Emergency Relief Fund (HEERF) Reporting

Reporting date: 4/10/2021

Acknowledgment:

Salon Success Academy acknowledges that the Certificate and Agreement have been signed and returned to the US Department of Education. Salon Success Academy assures that it 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.

Total amount of funds Salon Success Academy has received from the US Department of Education pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students:

$583,793

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:

$575,198.66

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:

750

Total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act:

727

The method(s) used by Salon Success Academy to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004 (a)(1) of the CARES Act:

Under the CARES act, our institutions have been allocated $583,793 to grant to students as emergency grant aid to be used for expenses related to the disruption of campus operations due to coronavirus, including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care.

Our institutions retain discretion to determine the amount of each individual emergency financial aid grant consistent with all applicable laws including non-discrimination laws. To expedite the process of distributing the emergency grants to students, and to be as equitable as possible, we will calculate and distribute the grants as follows:

CALCULATION METHODOLOGY:
Our Companies operate three (3) institutions, comprising of six (6) campuses, all as Salon Success Academy. The three institutions were allocated the following grant funds:

OPEID 02211000 – $94,532
OPEID 01309500 – $271,944
OPEID 00720300 – $217,317
TOTAL – $583,793

We believe it to be in our students’ best interest and most equitable to combine the funds from our three institutions in order to determine the grant aid that each student will receive.

All students that were both active as of 3/18/2020 and active or on Leave of absence as of 7/2/2020 will be eligible for the emergency grant aid.

Students will receive a proportionate share of the total funds based on the total hours the student is enrolled. We will add the enrolled hours for each eligible student to determine the total enrolled hours. Each students’ enrolled hours will then be divided into total enrolled hours of all students, then multiplied by the total available funds.
Example: Student A was active as of 3/18/2020 and active/LOA as of 7/2/2020 and enrolled for 1,600 hours. The total hours of all eligible students was 600,000 hours. The student would be eligible for 1,600/600,000 x $583,793 = $1,556.78

Instructions, directions, or guidance provided by Salon Success Academy to students concerning the Emergency Financial Aid Grants:

Students receiving Emergency Financial Aid Grants will be required to sign an Attestation certifying that the funds received are to be used for expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care.