From Our Blog
On March 27, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the largest and most notable of Congress’ coronavirus stimulus packages, was signed into law. Among the many allocations was $30.75 billion for an Education Stabilization Fund to support states, schools, and higher education institutions during the pandemic. These funds are disbursed as grants through six different programs.
In addition to the Education Stabilization Fund, some schools, like charter and private schools, had access to forgivable payroll-incentive loans through the Paycheck Protection Program.
The $900 billion stimulus passed as part of the Consolidated Appropriations Act on December 21 also allocated an additional $82 billion to the Education Stabilization Fund and $284 billion to the Paycheck Protection Program.