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COVID-19 Update: NBOA & Venable FAQs Webinar, Part II

By Net Assets posted 04-14-2020 12:38 PM

  

(From NBOA) In the second installment of "COVID-19: Your Questions Answered," held April 9, 2020, NBOA and Venable LLP addressed how schools are managing their responses, the legislation impacting independent schools, and how to move forward. The panel included Jennifer Osland Hillen, NBOA's vice president for professional development and business affairs, who spoke with Venable LLP partners Grace H. Lee and Janice P. Gregerson.

During the presentation, NBOA polled the more than 200 attendees. The majority of respondents (41%) are projecting a decrease in enrollment by up to 15% in FY21, but a large minority (25%) are still unsure of the impact of COVID-19 on enrollment. 

Meanwhile, when asked how schools are navigating recent legislation, the majority of respondents say they have applied for the PPP or EIDL loans and are waiting for approval (58%) or have applied for loans and been approved (15%). Some schools added that they are applying for federal financial assistance now and will consider whether they want to accept the loan or not after it is offered. Find more info about what it means to accept federal financial assistance on NBOA's COVID-19 Resources page and via NBOA Connect.



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