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Most institutions by June had disbursed the emergency student relief grants they received from the CARES Act, according to a survey from the National Association of Student Financial Aid Administrators.
The association distributed surveys to its member institutions in both May and June. The results show that 72 percent of institutions that responded hadn't yet distributed funds in May, but 94 percent had done so by the June survey.
Of those that said in the June survey they had distributed funds, more than half had distributed 75 to 100 percent of their funds.
The report also shows that most respondents in May didn't think the Department of Education's guidance provided enough direction for colleges to properly disburse the funds. In May, most -- about 70 percent of -- respondents who had not yet disbursed funds said they were still developing policies for awarding them. Forty-two percent said they were still waiting for additional guidance from the Education Department. About one-third of respondents cited other reasons for not yet releasing the funds, including shifting department guidance forcing institutions to re-evaluate previous decisions and delays in receiving the funding from the department.
Most of those who still had not disbursed funds by June also said they were still developing policies for awarding the grants.
