This document was created by the American Council on Education (ACE) in an effort to provide schools with a rough estimate of how much emergency assistance they may receive from the Emergency Stabilization Fund included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. ACE conducted a simulation of the distribution of emergency funds for every institution of higher education. The estimates are organized alphabetically by state.
While ACE’s simulation may be helpful to provide schools with a general idea of how much they may receive, final dollar amounts will be determined by the Department of Education (ED). These estimates should be used for general planning purposes only. ED will determine the distribution formula and may make different assumptions than those used to conduct this simulation. Until ED determines its methodology, there is no way of knowing the exact dollar amount each institution may receive.
ACE’s simulation was conducted using data from the Integrated Postsecondary Education Data System (IPEDS), a postsecondary education data collection program managed by ED’s National Center for Education Statistics (NCES). IPEDS gathers information annually from every institution of higher education that participates in the federal student financial aid programs. The simulation used IPEDS data from the 2017-18 academic year and included the following variables in its calculations:
50% of the $14 billion in emergency funds received by institutions under the CARES Act must go directly to students in the form of emergency financial aid grants for expenses related to the disruption of campus operations due to the spread of COVID-19. Emergency grants to students can be used for eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care. Institutions may use the other 50% of funds they receive on crisis-related expenses such as lost revenue, reimbursement for expenses already incurred, technology costs associated with transitioning to distance education, faculty and staff training, and payroll. The bill stipulates that the funding will be distributed by the Secretary in the same manner that other Title IV aid is distributed.
We share this as a preliminary tool, but as stated before the document was created by the American Council on Education (ACE) in an effort to provide schools with a rough estimate of how much emergency assistance they may receive from the Emergency Stabilization Fund.
This analysis summary was provided by Duane Morris. If you have additional questions please email firstname.lastname@example.org.