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AAU, Associations Urge Federal Reserve to Expand Main Street Lending Program

AAU joined ACE and 54 other higher education organizations to submit comments about the Main Street Lending program and underscore the importance of expanding the program to nonprofit private and public colleges and universities. In addition to expanding the program, the organization’s suggestions include: adjusting the list of qualifications for eligible borrowers; expanding the eligibility thresholds for colleges and universities; and expand and change the proposed loan terms to help colleges and universities continue to respond to COVID-19. “For our nation’s colleges and universities, access to affordable capital is a necessary lifeline as they navigate the economic fallout from the COVID-19 crisis,” the letter says.

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