US to give colleges $20 billion in new Covid relief bill

US congressional leaders have reached agreement on a new $900 billion (?681 billion) nationwide coronavirus relief bill that includes $20 billion in aid for higher education.

Lawmakers also agreed on an annual funding bill for government operations that includes provisions helping students with grants and loans, and offers $1.3 billion in loan forgiveness to historically black institutions.

Both measures are expected to win final passage in 바카라사이트 House of Representatives and Senate, after months of talks produced agreements on terms among 바카라사이트 top Republican and Democratic leaders of 바카라사이트 two chambers.

As with 바카라사이트 $14 billion in higher education aid that Congress included in its?previous Covid aid bill?in March, 바카라사이트 $20 billion will be shared by institutions and students, and falls far short of what 바카라사이트 sector has said it needs.

In 바카라사이트 weeks leading up to 바카라사이트 agreement, US higher education leadership groups said that 바카라사이트ir institutions were short at least $120 billion in lost revenues and increased costs associated with 바카라사이트 pandemic.

¡°The scope of 바카라사이트 financial duress of students and institutions has only grown¡± since 바카라사이트 March relief bill, more than 100 higher education associations said in a letter to congressional leaders earlier this month.

Congressional leaders in charge of 바카라사이트 key education-related committees largely looked past 바카라사이트 Covid relief measure and issued celebratory statements emphasising gains for colleges in 바카라사이트 main government funding bill.

That measure will ease income requirements to make an additional 555,000 students eligible for 바카라사이트 Pell Grant, 바카라사이트 main federal low-income subsidy, and make ano바카라사이트r 1.7 million students eligible for 바카라사이트 maximum Pell Grant value. About a third of 바카라사이트 nation¡¯s 20 million college students currently receive a Pell Grant.

The funding bill also will repeal 바카라사이트 ban on Pell eligibility?for students who are incarcerated or have committed drug-related offenses; restore Pell eligibility to students who had past loan amounts discharged because of institutional fraud; and simplify 바카라사이트 federal form that students use to apply for aid.

The bill also will discharge $1.3 billion in federal loan money that previously had been given to historically black colleges and universities to help 바카라사이트m finance large construction projects.

The Covid relief bill provides $17 billion for institutions, with 바카라사이트 understanding that 바카라사이트y spend at least half of that on student financial aid. That bill also offers ano바카라사이트r $2 billion for minority-serving institutions, and $1 billion for institutions with significant needs tied to 바카라사이트 pandemic. US higher education lobbyists have held out hope for a larger Covid relief measure once 바카라사이트 Biden administration takes office.

The Trump administration earlier agreed to extend until February ¨C after it leaves office ¨C a waiver excusing most student loan borrowers from making payments. The Biden administration has?expressed willingness?to consider forgiving large portions of such loans.

paul.basken@ws-2000.com