Following last week’s announcement of the $6 billion Higher Education Emergency Relief Fund to aid students amid the COVID-19 pandemic, the Department of Education (ED) has provided a set of resources as it prepares to disburse funds to institutions.
We recommend visiting ED’s relief fund web page here. It includes:
- A Certificate of Agreement form to be uploaded.
- Comprehensive submission procedures and tips for applicants, as well as a guide and visual aid.
- ED contact information for additional questions on submitting certificates, distributions and usage.
- A list of allocation amounts to each institution and the methodology behind the calculations.
Importantly, ED noted that institutions should enter only 50% of its direct-to-student allocation on the Certificate of Agreement. It will provide notice when the remaining 50% is available, which the department said is coming soon.
Additionally, McClintock & Associates will soon release guidance featuring best practices for disbursing and tracking the funds after they are received. As these emergency funds are vital to assist students who incurred expenses because of the disruption to their education, institutions must act quickly and responsibly to provide this relief.
For more information or assistance with matters related to COVID-19’s financial impact on institutions, feel free to reach out to us.