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How Did Institutions Spend COVID-19 Relief Funding?

Last year, the effects of COVID-19 caused unemployment rates to increase and forced many businesses to shut their doors.

For higher education institutions, the transition to virtual learning resulted in revenue loss and created more awareness around existing equity gaps.

However, the passing of the Coronavirus Aid, Relief and Economic Security (CARES) Act in March 2020 offered a temporary funding solution for individuals and industries.

Among the $2.2 trillion allocated under the CARES Act, $14 billion was distributed to the Office of Postsecondary Education as part of the Higher Education Emergency Relief Fund (HEERF). More recently, the American Rescue Plan Act of 2021 provided $40 billion to the higher education sector.

To understand how colleges and universities used their emergency grant funding, consulting firm Whiteboard Advisors hosted a virtual panel discussion with higher education leaders and advocates on Monday.

“For all of higher education, this was a challenging time,” said Dr. Julie Alexander, vice provost for academic affairs at Miami Dade College (MDC). “For many institutions, like Miami Dade, it was particularly difficult beyond the academic endeavors. Life for all of us has been hard. Life for individuals that already have hard lives is that much more difficult.”

Due to its close proximity to ski resorts and reliance on the local economy, Colorado Mountain College (CMC) acted before the CARES Act funding guidance was announced. To encourage students to stay within the mountain communities rather than leaving for urban cities, CMC offered summer 2020 tuition at no cost.

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