The U.S. Department of Education announced today that an additional $21.2 billion is now available to institutions of higher education (IHEs) to serve students and ensure learning continues during the COVID-19 pandemic. This funding is allocated to the Higher Education Emergency Relief Fund II (HEERF II) by the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), which was signed into law by President Donald J. Trump on Dec. 27, 2020.
In total $20.5 billion is available to public and non-profit colleges and universities and $681 million is available to proprietary schools. Public and non-profit schools can use their awards for financial aid grants to students, student support activities, and to cover a variety of institutional costs, including lost revenue, reimbursement for expenses already incurred, technology costs associated with a transition to distance education, faculty and staff trainings, and payroll. Proprietary schools must use their awards exclusively to provide financial aid grants to students.
Allocations to institutions are based on a formula that includes the relative shares of Federal Pell Grant recipients, the relative shares of non-Pell Grant recipients, and the relative shares of Federal Pell and non-Pell Grant recipients exclusively enrolled in distance education prior to the coronavirus emergency.
Public and private non-profit IHEs that already have approved CARES Act HEERF awards are not required to submit a new or revised application to receive additional funding under the CRRSAA. Public and private nonprofit IHEs that did not receive HEERF Student Portion and/or Institutional Portion awards under the CARES Act, as well as proprietary institutions, may apply for funding under the CRRSAA via Grants.gov.
For more information on HEERF II and the CRRSAA please visit the link below.
CRRSAA: Higher Education Emergency Relief Fund (HEERF II)
Lance Mann, CPA, CFE, CGMA
Assurance Director
lmann@deandorton.com | 502.566.1005