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What the pandemic relief and funding deals mean for colleges

December 22, 2020

The relief package would be the second major funding infusion for colleges and universities during the pandemic.

It follows the $2 trillion Coronavirus Aid, Relief and Economic Security Act, which passed in March and gave $14 billion directly to colleges, though about half had to be used for student aid. Colleges received funding through other CARES Act measures, too, including a $3 billion pot of education money for state governors. And many tapped an offer for small business loans.

But higher ed groups said that was not enough. The American Council on Education said in a statement this summer that the sector needed $120 billion to cover lost income and new expenses associated with the pandemic.

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