The big news — $2 trillion big -– is the “Coronavirus Aid, Relief, and Economic Security Act.” President Trump signed the emergency spending bill into law March 27th.
Thanks to a national advocacy effort of institutions and associations, independent higher education was included in the stimulus package, which provides $14 billion for higher education, to be distributed by the Secretary of Education based on enrollment. Of that $14 billion, $1 billion will be directed to HBCUs and other minority-serving institutions. Another $300 million is designated for smaller institutions.
There is also a “Maintenance of Effort” provision that requires states must maintain support for higher education and state need-based grant aid at an average of the previous 3 years.
The $14 billion more than doubles the $6 billion in last week’s Senate bill.
Again, I want to thank everyone who spoke on behalf of our colleges and universities.