New disclosures detail $22 billion in stimulus checks headed to U.S. colleges and universities
Updated Jan 28, 2021;
This article was first by The Business Journals.
Colleges and universities are set to receive some reprieve against rising costs and declining student populations with the latest allocation of federal funding, with some schools to receive stimulus well into the tens of millions of dollars.
The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) was signed Dec. 27 allowing the U.S. Department of Education to allocate pieces of a $22.7 billion pie to schools nationally. Unlike the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted in March 2020, the new relief measure provides institutions considerable flexibility in how they can spend their new funding.