Penn State will receive a stimulus of $54,994,846 after the U.S. Department of Education announced how much has been allocated to colleges and universities due to the coronavirus.
A minimum of $27,497,423 is to be awarded for emergency financial aid grants to Penn State students.
The money has been allocated due to the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
President Donald Trump recently signed the CARES Act into law less than two weeks ago. More than $6 billion was distributed immediately, effective April 9, according to a press release from the Department of Education.
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