U.S. Senator Dick Durbin announced changes to the Coronavirus Aid, Relief and Economic Security Act (CARES) Monday.
The changes will help support private, not-for-profit universities and colleges amid the pandemic caused by COVID-19.
Under the provisions of the CARES Act, the Federation of Illinois Independent Colleges and Universities will receive $132 million from the Department of Education’s Education Stabilization Fund. The state of Illinois is expected to receive $437 million from the same funds.
The money is designed to support higher education institutions in offering emergency financial aid to students affected by COVID-19 and to try to recover losses associated with COVID-19.
Senator Durbin spoke with the president of the Federation of Illinois Independent Colleges and Universities, Dave Tretter about the CARES Act changes.
“In an unprecedented time of uncertainty for higher education institutions and students, I’m proud to partner with organizations like the Federation of Illinois Independent Colleges and Universities to push for additional federal support for schools and student debt cancellation,” Durbin said in a press release. “I’ll continue to work alongside Illinois’ educational institutions to ensure that they have the resources they need to make it through the crisis.”