CECU Daily Update Email

COVID-19 Resources & Webinars
On March 13, 2020, Career Education Colleges and Universities launched an information webpage for institutions responding to Coronavirus (COVID-19). CECU’s Coronavirus webpage includes a multitude of helpful resources to assist higher education leaders understand the various legal and operational implications of temporarily closing a campus or adapting courses to online learning.

View all past webinars here.
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Upcoming Webinars:
Alleviate Student & School Financial Stress (while remaining compliant) During the COVID-19 Crisis
Tuesday, April 7th | 2:00PM EDT
Register Here
Presenter: Presenter: Sean Steinmarc, TFC Tuition Financing
With economic uncertainty looming for students, and schools thrust into a remote workforce environment, we need to find the right ways to manage student financing while minimizing impact to school operations.
Topics included in this webinar:
• Proper ways to defer student payments and/or forgive interest
• Ways to alleviate student financial concerns without deferring payments
• Refinancing institutional loans to improve student affordability and lessen default rates
• Managing financial paperwork remotely
• How to handle payment collections when students can’t walk into your office

Coronavirus News
ED Releases Updated COVID-19 Guidance Addressing Verification, Need Analysis, Distance Education – NASFAA
The Department of Education (ED) late on Friday released an updated COVID-19 Electronic Announcement (EA), providing new guidance and flexibilities on verification, need analysis, and distance education.
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UPDATED Guidance for interruptions of study related to Coronavirus (COVID-19) – IFAP
This guidance provides updated information that expands upon the Department’s March 5, 2020, guidance and provides additional regulatory flexibilities due to the lawful declaration of the COVID-19 national emergency.

Loan Application Checklist For The Paycheck Protection Program – McClintock & Associates
The updated SBA loan application instructions indicate payroll information should be based upon the 2019 calendar year. We believe the documents listed below will be needed for the loan application process.

Institutional Relief Under the CARES Act – CooleyED
The CARES Act authorizes ED to allow institutions to ease certain federal student aid requirements, provide relief for certain students and borrowers with federally held student loans and relax certain requirements.

New Guidance on Affiliate Rules for Paycheck Protection Program Loans – Duane Morris
On April 3, 2020, the Small Business Administration (SBA) issued guidance on affiliation rules, but it did not provide any of the relief that the private equity and venture capital industry was hoping for. This Alert highlights crucial points and initial observations on the guidance. A second Alert will follow with more detailed analysis.

Need online courses? New university consortium has 1 million openings – edscoop
Acadeum, a company that brokers enrollments in online courses for university students who can’t get into the classes they need at their own institutions, announced this week it’s assembled a coalition of 19 universities that are offering the remote-learning capabilities now suddenly in demand at universities around the country.

Additional Coronavirus Coverage
Attracting Students Amid the Coronavirus – Inside Higher Ed; Updated: 48 free higher ed resources during coronavirus pandemic – University Business; Adapting to online learning in a pinch – eCampus News

Member Spotlight
Raleigh nursing students ready to graduate, help amid COVID-19 pandemic – CBS17
Hospitals are not where most people want to be right now, except for the brave souls working on the frontline. An upcoming graduating nursing class at ECPI University is eager to join them.

Sullivan University donates N95 masks, thousands of gloves to help fight coronavirus – Courier Journal
The Sullivan University College of Pharmacy and Health Sciences donated more than 1,500 masks and nearly 7,000 gloves to the University of Louisville health system to help combat COVID-19.

Herzing University moving campus to Downtown Kenosha – The Journal Times
Herzing University, in particular, is focused on creating more opportunities to help residents achieve their educational and career goals while meeting the workforce needs of local employers.

Coronavirus - Education News
Man uses 3D printer to make face masks – Observer-Reporter
The masks can be used several times by changing a removable filter. “It’s a terrible shame we’re having such a shortage of medical supplies,” said Jaklitsch, an IT coordinator for Douglas Education Center. “Anything I can do, I just want to help.”

Education News
Governor Cuomo Announces Highlights of New Budget – Hamlet Hub
The FY 2021 Enacted budget includes for-profit college accountability initiative that is focused on transparency and outcomes to ensure that our students are well served in these schools.

Gen Z Takeover: Could online colleges gain traction with young students? – Education Dive
A considerable number of traditional-age learners are favoring colleges with flexible, remote degree options over residential campuses.

How the last recession affected higher education. Will history repeat? – The Hechinger Report
The number of students who enrolled in college jumped by almost 2.5 million, or nearly 16 percent, from 15.6 million undergraduate students in the fall of 2007 to a peak of 18.1 million students in the fall of 2010.

Low enrollment forces Nebraska Christian College to close – Norfolk Daily News
Nebraska Christian College, which was located in Norfolk for 62 years, will close for good at the end of the spring semester because of low enrollment numbers and financial struggles.

Coronavirus - Resources

• CER Coronavirus (COVID-19) News Coverage
• Coronavirus (COVID-19) Web Center - NASFAA
• CHEA- and USDE-Recognized Accreditors and COVID-19 Information - CHEA