Career Education Colleges & Universities (CECU) announced that the nation’s postsecondary career colleges have provided students with over $150 million in economic support during the pandemic to date!
According to reports produced by the schools and disclosed on their websites, 90 different schools – spanning almost 500 campuses – have provided economic support to over 135,000 students. Those same reports indicate that a total of 187,000 students have qualified for such aid; some aid is yet to be distributed.
“This is exactly the kind of important work our schools do,” said Steve Gunderson, President & CEO of CECU. “We worked hard to make sure our sector’s schools were eligible for the Higher Education Emergency Relief (HEERF) Grants, and we are now working hard to make sure our students receive this support.”
Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), schools were given flexibility in how to distribute such aid to their students best. Schools across the country developed at least ten different formulas on how to best distribute funds to their students. At least half of the schools chose to give funds to the students in one lump sum. Half of these schools gave all students the same amount of aid while the other half based such aid on a student’s financial need.
In addition to the 90 schools that have already distributed some aid, another 11 schools have publicized their distribution formula, but funds had not yet been distributed. We expect before this is complete that CECU member schools will provide help to almost 200,000 students with nearly $200 million in aid. Some schools are using all or part of the second installment for student assistance, while others are using the funds to enhance their distance education delivery.