Wednesday, April 8, 2020

Higher Education Relief in the CARES Act

Since we are talking about the CARES Act and Emergency Relief as it pertains to the budget today in class, I want to highlight the relief bill's higher education provision. My understanding is that relief for higher education was not in the original plan of the CARES Act, let alone for private institutions. Nevertheless, $14.6 billion in the relief bill goes to Higher Education. That it went from 0 to $14.6 billion is remarkable -- and will directly affect our further experiences at CMC. According to the bill, the amount each college receives depends on a handful of metrics including the number of Pell Grant recipients in each institution. Based off these formulas, CMC is estimated to receive $843,000. According to the higher education relief provision, 50 percent of the relief must go to students and the other 50 percent can be used for other administrative expenses. I am curious to see how CMC will determine how its relief is spent! Does anybody have any thoughts on how it will be spent? Or thoughts on how the crisis has affected college students in general?

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