Higher Ed Received Billions in Covid-Relief Money. Where Did It Go?

When the Covid-19 pandemic began more than three years ago, the consensus was that the economic fallout for most colleges would be severe. Not long after, the federal government allocated an unprecedented infusion of cash — $76 billion — to institutions of higher education. At a time when colleges and students were navigating both a public-health emergency and the pandemic’s financial fallout, the federal funding provided a much-needed buffer.