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The U.S. Department of Education issued additional guidance to colleges and universities on May 11 regarding the appropriate use of funds allocated to institutions as part of the American Rescue Plan (“ARP”). The additional guidance was offered in the form of an
FAQ identifying changes to requirements for higher education institutions regarding the use of federal COVID-related support.
The ARP includes $39.6 billion supporting higher education institutions under its Higher Education Emergency Relief Fund (“HEERF III”). This support follows two prior rounds of funding under the CARES Act in May 2020 (“HEERF I”), and CRRSAA in December (“HEERF II”). As with HEERF I and HEERF II, funding provided to higher education institutions under HEERF III is to be split between direct student support and institutional support. Regarding the institutional support allocation, these funds are to be used for the purpose
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In response to the COVID-19 pandemic, various relief efforts have been enacted. Several of these efforts impact tax-exempt and nonprofit organizations. This update will discuss certain of these relief efforts. This update will also discuss recent Internal Revenue Service (“IRS”) guidance pertaining to the 2021 tax year.
By way of background, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act and Consolidated Appropriations Act (“CAA”) were signed into law on March 27, 2020 and December 27, 2020, respectively. These Acts brought a variety of changes affecting tax-exempt organizations and non-profit clients. On March 12, 2021, President Biden signed the American Rescue Plan Act of 2021 (“ARPA”) into law, extending many of the changes originally implemented by both the CARES Act and CAA and introducing several more.
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Home › Tribal College News Roundup › HINU Receives Third Round of Federal Emergency Funds, $1.6M Minimum to Go to Student Aid
HINU Receives Third Round of Federal Emergency Funds, $1.6M Minimum to Go to Student Aid
May 12, 2021
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The Higher Education Emergency Relief Fund III (HEERF III) allocates $3.2 million dollars to be awarded to Haskell Indian Nations University (HINU) with at least half of that amount required to be used for student aid.
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