Mind Body Institute (MBI) signed and returned to the Department of Education the Certification and Agreement as required, and the institution will use all of these funds to provide Emergency Financial Aid Grants to students. The total funds available to MBI under HEERF II is $30,028.
CRRSAA requires proprietary institutions to use one hundred percent of the HEERF funds received to provide emergency financial aid grants to students 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).
Mind Body Institute has determined the following method of distributing the second HEERF grants:
Students are eligible who are also eligible for Federal Financial Aid (Title IV).
Students will receive a portion of the total available funds based on their Expected Family Contribution (EFC) score assigned by the Department of Education for Award Year 2020-21.
A student with an EFC of 0-5000 will receive a full share.
A student with an EFC of 5001-11000 will receive a half share.
A student with an EFC of 11001-16000 will receive a quarter share.
The dollar amount of a share will be determined by totaling the number of shares and dividing the allocation of HEERF grant funds by that number.
The funds will be distributed by check to each student receiving a share or portion thereof, including a notice explaining the grant and its intended use.
Note: The Secretary of Education strongly encourages financial aid administrators to exercise the use of professional judgment available under Section 479A of the Higher Education Act of 1965 (HEA), 20 U.S.C § 1087tt, to make adjustments on a case-by-case basis to exclude individual emergency financial aid grants from the calculation of a student’s expected family contribution. The Secretary of Education does not consider these individual emergency financial aid grants to constitute Federal financial aid under Title IV of the HEA.
The first awards were distributed to eligible students from the September 2020 and February 2021 cohorts on 4/22/2021, in the total amount of $19,555.55. Some students from the September 2020 cohort had already received grant funds from HEERF I, in which case they were awarded the difference between that amount and the total allotment from HEERF II. A full share was equal to $1500. 22 students were eligible to participate in Title IV Federal Financial Aid, and 21 of those received funds, based on the formula above.
The following notice was given to all recipient students:
UPDATE: Second Award
The second and final awards were distributed to eligible students from the June and September 2021 cohorts on 11/23/2021, in the total amount of $10,472.45. They were awarded according to the methodology outlined above. A full share was equal to $581.80. 25 students were eligible to participate in Title IV Federal Financial Aid, and 21 of those received funds, based on the formula above.