Nearly a month after the economic relief package was signed into law, just 1 in 10 schools that applied for funds for their students have been approved.
Colleges waited nearly a month for answers from the Education Department to questions about who exactly was eligible and how the dollars could be spent, a key factor that has slowed down the application and approval process, according to interviews with university officials. Although the program was technically up and running, school officials said many institutions were concerned about getting penalized for misusing the money if they proceeded before fully understanding the rules.
“There is an urgency to this and the longer this goes on, the costs mount up, and then it's much more difficult for students to manage,” he said. “The CARES Act makes clear that this taxpayer funded relief fund should be targeted to U.S. citizens, which is consistently echoed throughout the law,” Education Department spokeswoman Angela Morabito said.
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