Key Takeaways
- According to the U.S. Department of Education, the U.S. higher education sector received about $75 billion through the three major federal emergency pandemic relief bills: Coronavirus Aid, Relief, and Economic Security Act (CARES),
- Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), and the American Rescue Plan Act (ARPA).
- The median value of institutional funds received by schools we rate was about $2.0 million through CARES, $4.0 million through CRRSAA, and $5.0 million through ARPA.
- Several schools received additional aid in the form of a Paycheck Protection Program (PPP) loan or additional state and local grants.
- Emergency government funds accounted for over 4% of adjusted operating revenue in fiscal 2021 for more than 30% of respondents.
2 Jun, 2022