[S-SARA] BREAKING NEWS -- The US DOE Releases Information on the CARES Act: Student Support Funds

[Elisa Jaden]

Courtesy of WCET News and Russ Poulin


Yesterday, April 9, 2020, the U.S. Department of Education released more information about funds flowing to institutions and their students as outlined in the recent Congressional action, the CARES Act<https://www2.ed.gov/about/offices/list/ope/caresactgrantfundingcoverletterfinal.pdf>. More than $6 billion dollars will be transmitted to institutions, tentatively beginning next Wednesday, to be distributed in direct aid for students.



On the Department's Office of Postsecondary Education (OPE) webpage<https://nam05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww2.ed.gov%2Fabout%2Foffices%2Flist%2Fope%2Fcaresact.html&data=01%7C01%7Celisa.jaden%40sreb.org%7C2774e780445c49b585bd08d7dcc7df1e%7Ceb20950b168c497a98452b099844f3ef%7C0&sdata=ukqtFbYtlsxZWX1WB4ux9nA8bC5GPiB8x7LAvKXpdmg%3D&reserved=0>, next steps are outlined:



  *   A letter from Secretary DeVos briefing institution presidents about the background and the process for claiming the funds.


  *   Access to a "certificate" that institutions must complete and file before obtaining the funds. As there is some turn-around time between submitting the document and its final approval, institutions should consider quick action if they wish to access the money early.


  *   A list of how much funding is allocated to each institution.


There will also be another $6+ billion allocated for institutions to offset some of the costs of transitioning to remote learning and other expenses experienced due to the pandemic. More information will be provided on the institution-focused funding soon. NASFAA, the National Association of Student Financial Aid Administrators, provides additional details<https://nam05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.nasfaa.org%2Fnews-item%2F21501%2FED_Provides_Details_on_Institutional_Allocation_for_6_Billion_in_Emergency_Funds_for_Students&data=01%7C01%7Celisa.jaden%40sreb.org%7C2774e780445c49b585bd08d7dcc7df1e%7Ceb20950b168c497a98452b099844f3ef%7C0&sdata=H1B7KEhSz21StHVW83NhpTkyr%2FwhmmWGI6TeifxDwYQ%3D&reserved=0> in its coverage of this breaking news.

S-SARA
Southern Regional Education Board
(404) 879-5517
SARA at SREB.org<mailto:SARA at SREB.org>

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