The University will receive $25 million from the third round of federal stimulus funding, the Department of Education announced earlier this month.
The stimulus package comes from the nearly $40 billion allocated for higher education institutions under the American Rescue Plan, legislation signed into law by President Joe Biden in March as the third round of emergency federal aid distributed during the COVID-19 pandemic. The plan requires officials to direct nearly $12.6 million to students with the remaining $12.4 million going to institutional costs, but they have not yet announced how exactly the money will be used at GW.
The $25 million exceeds the total amount of funding GW received from the previous two rounds of stimulus packages combined.
The University previously received a total of nearly $20 million under the CARES Act last March and the Coronavirus Response and Relief Supplemental Appropriations Act in December. Officials opted to use all of the CARES Act funding for student aid but chose to split the second round of stimulus money between student aid and institutional costs.
“As we manage the many impacts of the pandemic, we remain committed to safety, the care of our community and fulfilling our core academic mission,” Provost Brian Blake and Chief Financial Officer Mark Diaz said in March. “These priorities have driven and will continue to drive every decision we make.”
Experts in higher education said the funding can help higher education institutions supplement lost revenue and accommodate students struggling financially during the pandemic.