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Dive Brief:
- The U.S. House of Representatives early Saturday morning approved another massive coronavirus rescue package, which would send about $40 billion in direct aid to colleges and universities. The 219-212 vote was mostly along party lines.
- Like previous relief measures, institutions must use a portion of their allocation to provide emergency grants to students disadvantaged by the pandemic.
- The $1.9 trillion bill heads to the Senate, where lawmakers will consider and likely amend it, before sending that version to the House for another vote.
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The U.S. Department of Education has reminded colleges several times of their flexibility to adjust parts of a student’s financial aid application to better reflect their circumstances.
The measure alters the 90/10 rule, which bars for-profit institutions from receiving more than 90% of their revenue from Title IV aid. Military education benefits would now count in that calculation, though they haven’t historically.
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