HCN DISTRIBUTES ALL CARES ACT FUNDING DIRECTLY TO STUDENTS

Charles Town, WV – American Public Education, Inc. (NASDAQ: APEI), parent company of campus-based pre-licensure nursing educator Hondros College of Nursing, today reaffirms its May announcement that Hondros has distributed 100 percent of the $3.12 million it received in emergency relief aid to 1,687 eligible nursing students who were not studying fully online prior to the COVID-19 pandemic. READ MORE


CARES Act Funding Website Disclosures

Hondros College of Nursing (HCN) received funds distributed from the Higher Education Emergency Relief Fund (“HEERF”), which is described in Section 18004 of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. Section 18004(c) of the CARES Act requires institutions to use no less than 50 percent of such funds to provide Emergency Financial Aid Grants to students for expenses related to the disruption of campus operations due to coronavirus.

HCN signed and returned to the U.S. Department of Education (“Department”) the Certification and Agreement [for] Emergency Financial Aid Grants to Students and the assurance that the institution 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.

HCN received a total of $1,560,414.00  from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.  HCN also received a total of $1,560,413.00 from the Department pursuant to the institution’s Certification and Agreement [for] the Institutional Share.  HCN used 100% of its total HEERF allocation of $3,120,827.00 ($1,560,414.00 Student Share plus $1,560,413.00 Institutional Share) as Emergency Financial Aid Grants to students.

HCN has distributed $3,120,827.00 in Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.  This represents 100% of the funding that HCN received from HEERF.

The total number of students determined eligible by HCN for federal student financial aid and are thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is 1,688. No HCN students were enrolled exclusively in online education prior to March 13, 2020.

1,688 students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.

HCN used two separate processes to determine which students received Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act. 

Instructions, directions, and/or guidance provided by HCN to students concerning the Emergency Financial Aid Grants included the following for the Student Share:

1. April 13, 2020 – students were emailed to both HCN and personal email accounts notice of a forthcoming application for CARES Act grant funds.

2. April 17, 2020 – HCN students were emailed the application for CARES Act grant funds and instructions to complete the application, which included instructions on eligible use of funds:

3. April 21, 2020 – HCN sent a reminder email for students to complete and submit the application repeating the information above and including the following:

4. April 24, 2020 – HCN held four CARES Act Grant Application Town Hall meetings in which every HCN student was invited to attend. Students were able to ask questions and have discussion regarding the CARES Act Grant Applications. 

5. May 8, 2020 – CARES Act Emergency Grant Notifications were sent to the all student that had submitted an application. Students who received grants were again provided with instructions on the eligible use of funds.

Instructions, directions, and/or guidance provided by HCN to students concerning the Emergency Financial Aid Grants included the following for the Institutional Share:

 1. May 15, 2020 – HCN notified student population of their eligibility for $916.00 grant or ineligibility for the grant due to not otherwise being Title IV eligible.