The CARES Act has now been on the books for almost two months, but colleges and universities continue to face difficult financial choices due to the fallout from COVID-19. While federal financial assistance provides some welcomed relief, CARES funds alone will not eliminate the need to reduce costs. Congress and the White House remain in gridlock over a future federal stimulus package (CARES 5) so leaders should not expect additional relief soon. EAB will continue to monitor this space closely to keep college and university leaders informed on federal actions that may affect higher education.
The CARES Act provides higher education relief but not a bailout
Universities will likely need more federal assistance to navigate the pandemic