[Factc] {Disarmed} FW: LAW E-Alert: Federal Response to COVID-19 (Corona Virus) As It Relates to Higher Education

Wed Mar 18 11:33:18 PDT 2020

Hello, colleagues – see below for information on interest waived for federal student loans and financial aid legislation to address the impact of COVID-19 on our students, faculty, and staff. I will continue to share information and resources to all and please feel free to contact me at any time! Take good care and be well. Best - Ha

[Compass]Ha T. Nguyen (she|her|hers)
Policy Associate|Student Services
Washington State Board for Community and Technical Colleges
hnguyen at sbctc.edu<mailto:hnguyen at sbctc.edu> • o: 360-704-4319 • c: 253.279.4299
sbctc.edu<https://www.sbctc.edu/> • Twitter: @SBCTCWashington<https://twitter.com/SBCTCWashington> • Facebook: @WASBCTC<https://www.facebook.com/wasbctc/>
_______________________________________________________________________________
                                                                      SBCTC Vision
                         “Leading with racial equity, our colleges maximize student potential and transform lives
                          within a culture of belonging that advances racial, social, and economic justice
                         in service to our diverse communities.”

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March 18, 2020
Federal Response to COVID-19 (Corona Virus) As It Relates to Higher Education

Note: This LAW Alert includes information as of 12 Noon on March 18th, 2020. The federal response is quickly developing. ACCT will continue to provide updates in the coming days.
Student Loans Interest Waived

On Friday March 13th, 2020, President Trump declared a national emergency in response to the COVID-19 outbreak. As part of the federal response, President Trump announced that interest will be waived on all federal student loans. The Department of Education (ED) is currently developing guidance for loan servicers and borrowers.  Here is what we know so far:

The department is instructing loan servicers to lower the interest rate on all federal loans to zero percent. The policy will automatically apply to all borrowers with federal direct loans, federally held Family Federal Education Loans and federally held Perkins Loans. Borrowers whose loans are in standard repayment, income-based repayment plans, or forbearance will qualify. Under this approach, a borrower's monthly payment amount will not automatically change. Borrowers facing financial hardship can apply for forbearance. No interest will accrue for all qualifying borrowers.

The waiver will be retroactive to March 13th, the day of the announcement.
Congressional Financial Aid Legislation to Address COVID-19 Outbreak

Congressman Bobby Scott, Chairman of the House Education and Labor Committee, and Senator Patty Murray, Ranking Member of the Senate Health Education, Labor, & Pensions (HELP) Committee, have introduced the Supporting Students in Response to Coronavirus Act (H.R. 6275<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-r/> & S. 3489<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-y/> respectively). These bills would provide funding to address the disruptions in higher education as a result of the COVID-19 outbreak, including:

·       $1.2 billion ($600 million for both fiscal year 2020 and 2021) in mandatory funding for emergency financial aid for higher education institutions. Funds will allow colleges to provide students grants of up to $1,500 each academic year to help pay for unexpected expenses related to their basic needs, such as food, housing, health care, and childcare. These grants could also support the one-time purchase of laptops and establishing a reliable internet connection. Priority would go to the institutions most heavily affected by the emergency, including Historically Black Colleges and Universities (HBCUs) and minority serving institutions (MSIs).

Other provisions in the bills to support higher education students and institutions impacted by COVID-19 include:
·       Flexibility for institutions of higher education to ensure continued access to federal financial aid to help remove the financial stress associated with a temporary leave of absence related to COVID19;
·       Waiver of Return of Title IV (R2T4) rules that would exempt students from paying back Pell Grants or student loans taken out for a disrupted term;
·       Flexibility for calculating students’ satisfactory academic progress (SAP) status to exclude non-completed academic credits;
·       Allowing the Secretary of Education to exclude any disrupted periods from students’ subsidized federal loans usage limit (SULA).

Finally, the bills provide Education Preparedness and Support Grants to governors to provide funding to school districts and institutions of higher education impacted by the COVID-19 outbreak. These grants would provide resources to help schools plan for closures, including how to provide meals to students, clean and sanitize educational facilities, and ensure buildings are safe for students’ return.

The Supporting Students in Response to Coronavirus Act is not likely to move as a standalone piece of legislation; however, there are current discussions about including some or all of the provisions in the third COVID-19 relief package that is being developed by the administration and Congress.
Other Resources

The Department of Education has put together a list<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-j/> of additional information and resources on their site.

The Federal Student Aid office has out together an FAQ page<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-t/> regarding the COVID-19 outbreak.

[http://i1.cmail19.com/ei/j/BD/D21/70F/032448/csfinal/acctnow2-990000079e04513c.jpg]<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-i/>

ACCT NOW is the go-to resource for issues affecting community colleges. Our new website features original reporting and research, as well as of-the-moment legislative updates. ACCT NOW also includes articles, reports, and research from outside sources that benefit the ACCT community.
Read the Latest Articles on ACCT NOW<https://associationofcommunitycollegetrustees.cmail19.com/t/j-l-qokytk-uduljks-d/>

[Viewpoint: Students getting short-term degrees deserve access to Pell Grants]

[Completing College: National and State Reports]

[The Power of the Census]

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