"When the federal government announced it would distribute nearly $6.3 billion to colleges to give to students in need, the aid was met with fanfare. The Education Department said April 9 the coronavirus money was on its way. For nearly every student, the money still hasn’t arrived," USA Today reports. 

"Colleges had been wary of distributing the money for fear of running afoul of future guidance from the federal government, said Justin Draeger, CEO of the National Association of Student Financial Aid Administrators.

There were questions, he said, of which students were eligible and just how the funds could be used. Colleges needed assurance they wouldn’t be penalized for how they give out the money down the line."

..."But the biggest problem? Of the institutions Draeger has spoken to, all have yet to receive it. And they can’t distribute money they do not have." 

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 4/22/2020