NEWS @NCANetwork members: @usedgov just announced the first distribution of funds from the #CARESAct Education Stabilization Fund to institutions. It is the portion of funds direct toward emergency aid. https://www.ed.gov/news/press-releases/secretary-devos-rapidly-delivers-more-6-billion-emergency-cash-grants-college-students-impacted-coronavirus-outbreak (1/4)

Letter from @BetsyDeVosED to institutions:
Institutions must spend the funds on relieving impact caused by #COVID in any category related to cost of attendance (includes food, housing, supplies/technology, and childcare). (2/4)

Letter from @BetsyDeVosED to institutions:
Institutions may give a portion to all students or determine aid by individual case. No maximum per student is set, but institutions are encouraged to consider using max #Pell $6195 as ceiling for an individual student award. (3/4)

Letter from @BetsyDeVosED to institutions:
Institutions will have one year from signing their agreement paperwork to spend these funds. This is good news: these dollars can be used toward AY20-21 financial aid packages. (4/4)