“We greatly appreciate that both the Senate and the House now have passed COVID-19 relief measures that include nearly $40 billion for students and colleges and universities, money that is badly needed to help address the financial devastation and economic dislocation caused by the pandemic. While this amount falls short of our most recent estimate of at least $97 billion in student and institutional needs, it still represents the largest federal effort so far to assist students and families struggling to cope with lost jobs or reduced wages and colleges and universities facing precipitous declines in revenues and soaring new expenses.
We urge Congress to quickly agree on and pass a final bill for President Biden’s signature so that these funds can be distributed in a timely manner. But the severe financial challenges posed by the pandemic are far from over, both for higher education and the country as a whole. We will continue to ensure that the Biden administration and lawmakers are aware of the needs of students and higher education institutions as future stimulus measures are considered.”