According to new estimates, the federal economic stimulus package known as the CARES Act will provide $434 million in education stabilization funds to Missouri, including:
$203.7 for K-12 schools, to be administered by the State of Missouri.
- The amount coming to Missouri is based on its share of funding under Title I.
- At least 90 percent of these funds must be passed on to Local Educational Agencies.
$175.9 million for colleges and universities. These funds will be distributed directly to institutions by the U.S. Department of Education.
- About 90 percent of the $14 billion allocated nationwide for institutions of higher education will be distributed based on institutions’ share of Pell Grant recipients.
- 7.5% of the funds will go to Historically Black Colleges and Universities or institutions serving primarily students of color.
- The remaining funds will be distributed by the Secretary of Education.
$54.3 million in emergency education relief grants. Governor Parson will have discretion over the distribution of these funds.
- Of the $3 billion national program, 60% was allotted to states based on their share of the school-aged population (defined as individuals aged 5 – 24). 40% was distributed based on the state’s share of Title I students.
Click here for more information about the CARES Act.