Higher Education Emergency Relief Fund (HEERF)

Quarterly Budget and Expenditure Reporting – 06/30/2022

Quarterly Budget and Expenditure Reporting – 09/30/2021

Quarterly Budget and Expenditure Reporting – 12/31/2020

HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) REPORTING

Reporting date: 12/18/2020

Acknowledgment:

American Beauty College acknowledges that the Certificate and Agreement has been signed and returned to the US Department of Education. American Beauty College assures that it 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.

Total amount of funds American Beauty College has received from the US Department of Education pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students:

$110,952.00

Total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission:

$65,466.87

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:

150

Total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act:

88

The method(s) used by American Beauty College to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004 (a)(1) of the CARES Act:

Under the CARES act, our institutions have been allocated $110,952.00 to grant to students as emergency grant aid to be used 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.

Our institutions retain discretion to determine the amount of each individual emergency financial aid grant consistent with all applicable laws including non-discrimination laws. To expedite the process of distributing the emergency grants to students, and to be as equitable as possible, we will calculate and distribute the grants as follows:

CALCULATION METHODOLOGY:

Our Company operates one (1) institution, comprising of two (2) campuses, all as American Beauty College.

The institutions was allocated the following grant funds:

OPEID 01307400 – $46,676.08 West Covina

OPEID 01307401 – $64,275.92 Palmdale

TOTAL – $110,952.00

All students that were both active as of 3/14/2020 and active or on Leave of absence as of 3/15/2020 will be eligible for the emergency grant aid.

Students will receive a proportionate share of the total funds based on the total hours the student is enrolled. We will add the enrolled hours for each eligible student to determine the total enrolled hours. Each students’ enrolled hours will then be divided into total enrolled hours of all students, then multiplied by the total available funds.

Example: Student A was active as of 3/14/2020 and active/LOA as of 03/15/2020 and enrolled for 1,600 hours.

The total hours of all eligible students was 216,275.75 hours.

The student would be eligible for 1,600/216,275.75 x $110,952 = $820.82

Instructions, directions, or guidance provided by American Beauty College to students concerning the Emergency Financial Aid Grants:

Students receiving Emergency Financial Aid Grants will be required to Sign an Affidavit certifying that the funds received are to be used 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.