The federal government handed over nearly $76 billion to colleges and universities from COVID-19 federal funding packages, despite the colleges and universities having billions of dollars in their endowment funds, according to data compiled by OpenTheBooks.
The Cares Act, The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSSA) and The American Rescue Plan Act contained over $5 trillion in federal COVID-19 relief funds, of which nearly $76 billion was handed over to colleges and universities, according to data compiled by OpenTheBooks, a government transparency watchdog organization. Sixteen of the universities with the largest endowments received nearly $4 billion in federal COVID-19 relief funds.
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