Coronavirus Aid, Relief and Economic Security Act Emergency Funds Disclosure.
As directed by the U.S. Department of Education, electronic announcement posted on May 6, 2020 related to the “CARES Act” Emergency Funds Disclosure, the institution is publishing the following information
In compliance with Section 18004 of the CARES Act Visible Music College confirms that we have signed and returned to the Department the Certification and Agreement and that Visible Music College 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.
Visible Music College has received $499,896.00 from the federal CARES Act, with $92,907 being made in direct payments to students.
As of 12/31/20 $53,097 of Emergency Financial Aid Grants has been distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission.
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 is 168.
As of today, 55 students have received distributions of Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act.
These funds are available to provide grants to students for expenses related to the disruption of campus operations due to the coronavirus. A student’s financial need may have increased based on recent events related to the coronavirus pandemic. Eligible expenses would include food, housing, technology, course materials, health care and child care. Students must meet Title IV eligibility requirements in order to receive the emergency grant. Students must remain in active status and in good standing. Students are required to complete the emergency funds request form attesting to the financial need has been caused by the coronavirus pandemic and commitment to use the funds as stated.
Allocation for Distribution
Visible Music College will distribute $92,907 directly to students. The payments will be sent to students via check to their address on record.
Up to $250 will be allocated for travel expenses for graduating students traveling back to the Memphis campus for graduation in Aug 2020.
Up to $250 will be allocated for senior students who incurred additional expenses for their senior concerts & projects not having had access to the building resources and equipment.
Funds will be allocated for every student who was in housing in the Spring 2020 semester and faced disruption to their living arrangements.
Remaining Funds will be allocated on a hardship basis for which students will apply. There will be another open application period for students to request these hardship funds. This will continue until all funds ($92,907) have been distributed within twelve months.
Visible Music College is committed to expending the remainder of the funds received under this act to enhance student support services to promote academic success, physical, and mental health initiatives.
Click here to see the Quarterly Budget and Expenditure Reporting for 9-30-20
Click here to see the Quarterly Budget and Expenditure Reporting for 12-31-20