NASFAA Mention: Colleges, Students Will Have Easier Access to Second Round of Stimulus Funds, But Bureaucracy Remains

"Colleges and universities that received federal stimulus dollars last year will have an easier time accessing the second round of relief, but higher education experts say it will still take work to get money into the hands of students," The Washington Post reports. 

..."The money is being provided as supplemental funds to grants created by Congress last spring. That eliminates the need for schools that benefited from the first round of relief to apply for the new aid, said Justin Draeger, president of the National Association of Student Financial Aid Administrators.

But he said institutions will still need to complete a few steps before money is transferred to their accounts.

'Schools will need time to understand ED’s new guidance, complete the paperwork, formulate allocation models and get money out the door,' Draeger said. 'We know students and families continue to experience real harm from the pandemic, and schools will be working overtime to get money to students as soon as is practicable.'"

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: 1/14/2021

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