The recent CARES Act authorized the Higher Education Emergency Relief Fund, which includes approximately $12.5 billion in aid to Institutes of Higher Education (IHEs).
50 percent of that aid is intended to provide students with emergency cash grants to cover expenses related to the pandemic.
This emergency aid is intended as a short-term solution to cover unexpected events such as unemployment, medical expenses, or a loss of a loved one.
The Relief Fund stipulates the grants to students should be used for “expenses related to the disruption of campus operations due to coronavirus, such as food, housing, course materials, technology, health care and child-care expenses.”
Funds from the act have been allocated to over 5,000 IHEs with amounts based on the number of Pell Grant recipients. The U.S. Department of Education has left it up to the individual institutions on how to distribute the funds to students.
Students are encouraged to contact their school’s financial aid or student affairs office to ask about emergency programs, including CARES Act grants. Many schools have already put assistance in place to help with tuition, food, and housing.
If you have any questions about your own or a family member’s student loan repayment, please reach out to an IonTuition concierge counselor today.

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