Congress Gave Colleges Billions. Who Got What?

The federal Coronavirus Aid, Relief, and Economic Security (Cares) Act was meant to provide relief to colleges and students facing unexpected costs related to the pandemic. The Higher Education Emergency Relief Fund, which is part of the legislation, provided roughly $12.5 billion to colleges to “prevent, prepare for, and respond to the coronavirus.” At least half of that money was required to be used for emergency financial aid to students.

Some higher-education observers said the fund didn’t provide enough help. “The emergency needs of public universities far exceed the funding provided in this legislation,” said the Association of Public and Land-Grant Universities in its initial analysis of the aid. In the months that followed, though, several elite institutions declared that they would not take the money that had been allotted to them.

It can be tough to get a grip on what such large sums of money mean. But what if that $12.5 billion was $100? For example, public flagships were slated to receive $990 million — or $7.92 out of that $100. Historically black colleges and universities would get $2.78. And the Ivies? $0.49. Here are some ways the money could be broken down.

Public, Private, and For-Profit

Part-Time Students Count Less

The Cares Act allocates money to colleges on the basis of the number of full-time students. Community colleges, which serve large numbers of part-time students who are likely to face financial challenges, would receive the equivalent of about $23 out of $100.

Big Colleges, Big Dollars

Large public institutions, including three public flagships, make up the top 10 recipients of Higher Education Relief Fund money. Of $100, their share would equal $3.90.

In a Financial Bind

About $50 out of $100 in the Cares Act is earmarked for students. Those who are carrying student-loan debt have more financial difficulties than those who don’t, according to a recent survey.