On May 28, 2020, Peloton College (OPE ID: 04168700) received education stabilization funds under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Public Law No: 116-136. This Fund Report applies to the student portion received under the Higher Education Emergency Relief Fund (HEERF) that is designated exclusively for emergency financial aid grants to students.
The institution is making the below information available for transparency purposes and in compliance with the U.S. Department of Education’s (“Department”) Electronic Announcement of May 6, 2020. For questions or concerns regarding this Fund Report, please contact David Soto, Corp. Dir. of Financial Aid at firstname.lastname@example.org.
- The institution signed and returned to the Department the Certification and Agreement [for] Emergency Financial Aid Grants to Students. 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.
- The total amount of funds that the institution has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $313,119.
- The total amount of emergency financial aid grants approved as of this report date: $109,295.40 of which $69,385.20 has been distributed to students under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report.
- 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 under Section 18004(a)(1) of the CARES Act: 190.
- The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report: 88.
- The methods used by the institution to determine which students receive emergency financial aid grants and how much they would receive under Section 18004(a)(1) of the CARES Act are provided in Attachment A.
- Any instructions, directions, or guidance provided by the institution to students concerning the emergency financial aid grants are provided at Attachment B.
The institution appreciates that Congress and the President have made these critical funds available for eligible students who have expenses related to the disruption of campus operations due to the coronavirus pandemic. We take receipt of these federal funds seriously and are distributing them in accordance with the CARES Act and implementation guidance. The institution will continue to make HEERF grants available to students until the funds are exhausted so we encourage all students who may be eligible for HEERF funds to apply.