Home Coronavirus Coverage Senate Likely To Vote On Stimulus Package Later Today; Support For Students And Institutions Still Being Negotiated – ACE

Senate Likely To Vote On Stimulus Package Later Today; Support For Students And Institutions Still Being Negotiated – ACE

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Senate Minority Leader Chuck Schumer (D-NY) and Treasury Secretary Steve Mnuchin said last night that they were nearing a deal on a $2 trillion economic aid package to help Americans, U.S. businesses, and specific groups—including college students and higher education institutions—survive the coronavirus pandemic.

House Democrats also have unveiled their own $2.5 trillion proposal that will have to be reconciled with whatever the Senate votes to approve.

While final details are still unknown at this point, the latest Senate proposal would provide less than $3 billion for institutions and less than $3 billion for students. ACE estimates that more than $50 billion in immediate direct relief is needed to assist students with costs such as housing and travel and to keep institutions financially stable over the next six months, as well as nearly $8 billion for a technology implementation fund for online learning.

The House would provide at least $24.5 billion for higher education and it could be more, depending on decisions governors make about how to allocate the discretionary funds that they receive.

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