Higher Education Emergency Relief Fund Report

Higher Education Emergency Relief Fund Report

Emergency Financial Aid Grants to Students

June 4, 2020

The Ocean Corporation (OPE ID: 026002) 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 Terry D. Kelley, Financial Aid Officer at terry.kelley@oceancorp.com.

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 $203,004.00.

3. 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 $101,502.00.

4. 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 97.

5. 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 87.

6. 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 at Attachment A.

Attachment A

The Ocean Corporation Policy regarding the Education Stabilization Fund through the Coronavirus Aid Relief and Economic Security (CARES) Act for the Higher Education Emergency Relief Fund (HEERF)

Situation: The CARES Act provided funding to higher education institutions (aka HEERF) to assist students with expenses related to the COVID-19 pandemic, and in particular to the changes in academic program delivery necessitated by the situation. 

Logic Behind the Policy:  It is apparent that all of our active students at the point of the Ocean Corporation’s temporary transition to on-line education have been affected financially, emotionally, socially, and educationally both by the transition and by the situation.  It is difficult to quantify the individual financial impact on each student without carefully analyzing each student’s individual family situation, potential employment losses, childcare expenses, etc.  We believe it would be functionally impossible to create an algorithm that completely addressed all issues and allocated the available funds equitably in all circumstances.  Further, the school was not provided sufficient funds to adequately address even a percentage of the costs, and thus providing sufficient funds to those with the greatest need (under whatever methodology we could create) would only serve to ensure that those with less need received no more than an insignificant amount of the available funds, if any.

Policy:  Therefore, it is the policy of the Ocean Corporation that for the first portion of the HEERF funds, we will provide equal awards to all eligible students who were in attendance at the time The Ocean Corporation was forced to offer training online.


Revised: August 11, 2020