*McCann School of Business and Technology campuses are branch campuses of Platt College, Tulsa, OK.
Platt College acknowledges that it has signed and returned to the US Department of Education the CARES Act Higher Education Emergency Relief Fund Certification and Agreement and Platt College and its branch campuses intend 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.
The total amount of funds that Platt College (and its branch campuses) has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $8,015,564.00.
The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of:
July 8, 2020 – $5,717,803.00
July 24, 2020 – $6,271,083
August 5, 2020 (30-day Report) – $6,392,113
August 28, 2020 – $6,480,292
September 11, 2020 (45-day Report) – $8,015,577.57
The estimated total number of students at Platt College (and its branch campuses) 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 is 4,634 students.
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 of:
July 8, 2020 – 3,307 Students
July 24, 2020 – 3,627 Students
August 5, 2020 (30-day Report) – 3,697 Students
August 28, 2020 – 3,748 Students
September 11, 2020 (45-day Report) – 3,748 Students
The method(s) used by Platt College (and its branch campuses) to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as follows:
- The total amount of funds received ($8,015,564.00) was divided by the estimated total number of student eligible to participate in the program (4,634 students) to determine the initial award amount of $1,729.00
- A CARES Act – Higher Education Emergency Relief Fund (HEERF) Emergency Financial Aid Grants – Student Certification Form was electronically sent to the students determined eligible to receive a grant to complete on the student portal.
- Students were asked to attest to the eligibility requirement of having expenses related to the disruption of campus operation due to COVID-19.
- Students who completed the form and attested to having expenses met the eligibility requirement to receive the emergency financial aid grant and to certify their understanding of the grant program and the accuracy of their response.
- A deadline of August 21, 2020 was set to complete the Student Certification Form. The deadline was then extended until August 28, 2020.
- Once Emergency Financial Aid Grants were awarded to eligible students, the total amount of funds remaining ($1,464,383) was divided by the remaining number of students eligible to participate in the program (2,457 students) to determine the second award amount of $596.01.
As follows please find additional instructions, directions, and/or guidance for students concerning the Emergency Financial Aid Grants:
All eligible students will receive their grant through Bank Mobile based on their current refund preference. As a reminder Bank Mobile offers three options to students when processing refunds:
- Deposit to a Bank Mobile Checking Account
- Deposit to a personal Financial Institution/Bank
- Refund sent via paper check
Students who would like to verify and/or change their refund preference can log into their account at https://bankmobilevibe.com/ or contact the Financial Services Call Center at 1-866-801-1658 for assistance.
Students who do not have an account with Bank Mobile can call 1-866-801-1658 to speak with a Financial Services Officer or visit the Financial Aid Office at your institution to set up your account.
HEERF Institutional Quarterly Budget and Expenditure Reporting 10.30.20
HEERF Institutional Quarterly Budget and Expenditure Reporting 1.10.21