Stone Academy has signed and returned to the Department the Certification and Agreement and the assurance that the institution intends to use all of the funds received under the CRRSAA and ARP (a)1 and (a)4 programs to provide Emergency Financial Aid Grants to students.
- The Institution has received $2,316,051.00 from the Department pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students under the CRRSAA and ARP.
- Emergency Financial Aid Grants distributed to students under CRRSAA as of the quarter ending December 31, 2021: $414,960.00. There was $0 distributed during the quarter ending 12/31/2021. Furthermore, there was $0 distributed during the quarter ending 06/30/2021, and $414,960 during the quarter ending 09/30/2021.
- Estimated total number of students at the institution eligible to receive Emergency Financial Aid Grants under the CRRSAA: 850
- Total number of students who have received an Emergency Financial Aid Grant to students under CRRSAA as of December 31, 2021: 741. There were 0 students that received an Emergency Financial Aid Grant during the quarter ending 12/31/2021. Furthermore, there were 0 students that received an Emergency Financial Aid Grant during the quarter ending 06/30/2021, and 741 students that received during the quarter ending 09/30/2021.
- The method used by the Institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under the CRRSAA is as follows:
- The institution will evenly distribute 100% of the total CRRSAA and AP Emergency Financial Aid Grant funds to its students, prioritizing exceptional need. The institution will determine exceptional need by evaluating Pell eligibility. If a student is determined as Pell grant eligible, they will qualify to receive a student grant through CRRSAA. The institution plans to issue the emergency grants over a 10-12 month period.
- Instructions for students regarding the Emergency Financial Aid Grants:
- Students will be instructed to fill out an application (during a defined application period of generally 1 week) for the CRRSAA Emergency Financial Aid Grant program on the institution’s website. The form will request information on the applicant, as well as ask the applicant to “opt in” to the program. Once the application period closes, student applications will be reviewed, to determine if students are actively registered at the institution, are Pell grant eligible, and have elected to “opt in”. If all criteria are met, they will receive CRRSAA/ARP Emergency Financial Aid Grant funding.