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The U.S. Department of Education has released its plan for distributing $14 billion of the federal stimulus to colleges and universities. The list of planned allocations for each institution can be found here.
In a letter to college leaders, Education Secretary Betsy DeVos said $12.56 billion of that amount will be distributed to colleges based on an enrollment formula. At least 50 percent of the amount each college receives must go to students as emergency aid grants to help cover campus expenses related to disruptions caused by the pandemic, she said.
The department said the $6.28 billion for emergency aid is available today.
The CARES Act stimulus features significant discretion on how institutions award the emergency aid, said DeVos, who encouraged college leaders to prioritize students with the greatest needs.
"This means that each institution may develop its own system and process for determining how to allocate these funds, which may include distributing the funds to all students or only to students who demonstrate significant need," DeVos said. "The only statutory requirement is that the funds be used to cover 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)."
