America’s Colleges & Universities Awarded $12.5 Billion In Coronavirus Bailout – Who Can Get It And How Much

Forbes ^ | 05/08/2020 | Adam Andrzejewski

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Harvard decided not to apply for their $9 million share of the $2.2 trillion CARES Act - the Coronavirus Aid, Relief, and Economic Security Act, after President Donald Trump brought the issue into the national limelight. Princeton followed suit.

The other Ivies are still deciding whether to accept up to $62.9 million in CARES money — despite their collective endowment of $140 billion. However, our auditors at OpenTheBooks.com discovered that these funds are just the tip of the iceberg.

We scoured the backend of the U.S. Department of Education website and found the full database: 5,137 colleges and universities that were awarded $12.5 billion in coronavirus relief. None of it has to be paid back.

We created an interactive map on a state-by-state basis of the colleges and universities that were allocated the aid. (The institutions still must apply for the funds in order to receive it.)

Just click a pin (state) and scroll down to the chart beneath the map to see which college (by name) can receive how much taxpayer money. For example, you’ll find 530 schools in California, 389 in New York, 295 in Texas, 261 in Florida, and 260 in Pennsylvania.

The five colleges and universities allocated the most money were Arizona State University ($63.5 million); Penn State ($55 million); Rutgers, The State University of New Jersey ($54.1 million); University of Central Florida ($51.1 million); and Miami Dade College ($49.1 million).

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The 50 worst community colleges scored by WalletHub received $200 million in taxpayer funding. Collectively, these schools had a graduation rate of just 12.3 percent (2017-2018).

The top 10 worst schools were allocated $66 million despite reporting graduation rates between 4-9 percent. The U.S. taxpayer may want to know why these schools are even allowed to operate.

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So, who was not allocated coronavirus bailout money?

There are sixteen U.S. colleges and universities that do not accept federal money. The most prominent are Hillsdale College in Michigan, Grove City College in Pennsylvania, and Patrick Henry College in Virginia.

In February, our team audited Hillsdale’s assertion of no federal funding and found their statements 100 percent true. Hillsdale has never taken any aid directly from the federal government. This has allowed the college to operate without government interference and with maximum institutional independence.

None of the sixteen colleges were allocated any coronavirus bailout money, either. These schools decided long ago to pay their own way.

[Governor Dinwiddie]

"An appeaser is one who feeds a crocodile, hoping it will eat him last." — Winston Churchill

[Yo-Yo]

I have a cousin in Florida that owns a cosmetology school, and I see from the interactive map that she received bailout money!

[BBQToadRibs]

You know you’re not there as an educator when your graduation rate is 4-9%.

[Bommer]

I guess they dont need thst endowment fund no more. Local governments can now consfiscate it legally!

[newzjunkey]

Does anyone understand why institutions with endowments and tuition are needing money from CARES Act?

OK some lose revenue from their sports programs but, seriously, I clearly don't understand their finances.

[scrabblehack]

Do they have a lot of non-degree students? You could be right, or the chart could be misleading.