On Thursday, the U.S. Department of Education (ED) released the allocations it will make to postsecondary institutions in order to distribute the approximately $14 billion in postsecondary funding provided under the CARES Act. You can visit this page to see how much each postsecondary institution will receive.
Secretary DeVos also announced that the portion of the funding allocated for direct student support will be distributed to postsecondary institutions immediately. The intent is to provide cash grants to students for expenses related to disruptions to their educations due to the COVID-19 outbreak. These expenses include things like course materials and technology as well as food, housing, health care, and childcare.
The formula used to create the allocations weighs the number of full-time students who are Pell-eligible, along with overall enrollment numbers. In order to access these initial funds, ED must receive a signed certification from the institution of higher education (IHE) affirming they will distribute the funds in accordance with applicable law. The IHE will then make the determination as to which students will receive the aid.
The remaining funds will be distributed in the next few weeks, and more guidance is coming on how institutions will be able to access and use the additional dollars.
You can read the full press release on the announcement here.
Comments