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Tracking the Money Congress Gave Colleges for Coronavirus Relief

College dorms are closed. Athletic events are canceled. Classes have moved online. Like so many sectors of the U.S. economy, higher education is taking a hit from the coronavirus pandemic. In March, Congress set aside more than $14 billion to help colleges and universities weather the outbreak. Here’s where most of that money has gone and why many colleges are holding out for more:

The coronavirus rescue package, known as the CARES Act, created three buckets of funding for higher education: $12.5 billion to help with coronavirus-related expenses for schools that participate in federal financial aid; $1 billion for minority-serving institutions, including historically black colleges and universities; and a smaller pot of nearly $350 million for colleges that didn’t get much from those first two buckets and still had “significant unmet needs.”

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