We have a more recent brief on this issue. Go here for the latest guidance.
Updated April 24, 2020
Through the Higher Education Emergency Relief Fund created in the CARES Act, the federal government is providing $6.28 billion of aid to institutions of higher education in order to provide direct, emergency aid grants to students impacted by the COVID-19 pandemic. This brief provides some recommendations for how institutions of higher education think about distributing this aid to students.