Federal Financial Aid

Federal Financial Aid

Federal Financial Aid is a common way for students to pay for their education. The Soma Institute participates in a number of Federal Student Aid programs and assists students in applying to these programs.

Higher Education Emergency Relief Fund Report Emergency Financial Aid Grants to Students

June 5, 2020

The Soma Institute – The National School of Clinical Massage Therapy (OPE ID:  038913) 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 that is designated exclusively for emergency financial aid grants to students.

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 implementing guidance.

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.[1] For questions or concerns regarding this Fund Report, please contact James Cussen, V.P. Operations & Financial Aid, at jcussen@soma.edu.

  1. 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.
  2. The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $ 104,718.00. The total amount of emergency financial aid grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is $ 0.00.
  3. 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, as of the date of this Fund Report is 225.
  4. 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 is 0.
  5. The methods to be 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 at CARES ACT GRANTS FOR SOMA STUDENTS.
  6. Any instructions, directions, or guidance provided by the institution to students concerning the emergency financial aid grants are provided at CARES ACT GRANTS FOR SOMA STUDENTS.

CARES ACT GRANTS FOR SOMA STUDENTS

The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, includes a Higher Education Emergency Relief Fund, or HEERF.  The fund provides $104,718 to help Soma students for expenses related to the disruption of campus operations due to COVID-19.

According to the Department of Education, students who are Title IV aid eligible and were enrolled at The Soma Institute on March 13, 2020 in what were intended to be face-to-face classes may be eligible for HEERF grants.

Soma students who may be eligible for HEERF grants will receive an email in the coming weeks asking them to:

  1. Have a valid ISIR for 2019-2020 or 2020/2021 or
  2. Complete a 2019/2020 or 2020/2021 FAFSA by June 30, 2020 and include Soma’s School Code (038913) on that application,
  3. Meet all Title IV eligibility requirements
  4. Acknowledge that they understand that the HEERF Emergency Grant Aid is intended to offset additional expenses related to the disruption of school operations (including eligible expenses for a student’s cost of attendance, such as food, housing, course materials, technology, health care and child care), and
  5. Confirm that they have experienced expenses related to the disruption of campus operations due to coronavirus, and
  6. Confirm that they wish to be considered for a HEERF grant, and
  7. Provide Soma with an updated mailing address to which any grant funds that they are awarded may be sent.

The Soma Institute will verify the eligibility of Soma students to participate in The HEERF Grant fund of $104,718 and will divide the grant fund up equally among all qualified students.  Students must be active students at the time of disbursement of the Grant fund in order to be eligible to receive a Grant disbursement.  Grant funds will be disbursed to Soma students on or before July 15, 2020.

[1] See: https://ifap.ed.gov/electronic-announcements/050620HigherEdEmergencyReliefFundRptg

Federal Pell Grants.

A Federal Pell Grant does not have to be repaid by the student. The amount awarded to you depends on your financial need, cost of attendance and enrollment status. To find out what you qualify for contact financialaid@soma.edu.

Direct Loans.

Direct Student Loans, unlike a Pell Grant, must be repaid by the borrower.

  • Direct Subsidized Loans is a loan that is awarded based on financial need.
  • Direct Unsubsidized Loans are not need-based.
  • Direct Plus Loan is a parent loan for dependent undergraduate students.

Note: All Federal Student Aid.

Pell Grants and Direct Loans awarded to students and their parents are submitted to the National Student Loan Data System (NSLDS).

How to Apply for Federal Financial Aid.

To apply for financial aid, students must complete the Free Application for Student Aid (FAFSA). And, don’t forget to include The Soma Institute on your FAFSA – Soma school code is 038913.