Local colleges receive $14M in grants; half must go to students

(KWTX) Local colleges and universities are receiving a total of about $14 million in grants funded by the CARES acts, the massive $2 trillion coronavirus relief measure, U.S. Sen. John Cornyn, R-Texas, announced Tuesday.

At least half of the amount of the grants must to toward providing emergency assistance to students to help cover expenses resulting from the disruption caused by the coronavirus outbreak and efforts to stem the spread of the virus.

"No Texan should have to give up their education because of the economic effects of the coronavirus," Cornyn said.

"In addition to allowing students to defer their federal student loan payments for six months, the CARES Act provides targeted funding to Texas institutions to help students continue their education - even if that means taking classes online."

Texas A&M University-Central Texas in Killeen is receiving $1.3 million, about $660,000 of which goes to student aid.

The CARES act provides billions of dollars for hospitals and state and local governments, $500 billion for loans to struggling businesses, as well as $1,200 to each Texas resident making less than $75,000 a year.

The bill expands unemployment benefits, and also defers student loan payments for six months with no penalty or interest.