Despite good intentions, CARES money is getting to students very slowly, or at some schools not at all. As an indication of how leading American colleges were spending - or not spending - their CARES funding, here is a review of the status of those funds as of May 4 at the Forbes list of the top-25 colleges (excluding the Naval Academy). Universities rejecting CARES fundingSeveral elite schools, particularly those with large endowments, have already turned down CARES funding. Regardless of your opinion about whether elite colleges should receive or reject CARES funding, it’s disconcerting that this much money - targeted for needy students - remains in bureaucratic limbo, doing no one no good. Much of the funding desperately needed by college students is stalled, a victim of executive branch incompetence and institutional fear of reprisal.

Source: Forbes May 05, 2020 09:56 UTC