Education Secretary Betsy DeVos Elizabeth (Betsy) Dee DeVosSpecial counsel investigating DeVos for potential Hatch Act violation: report NEA president says Azar and DeVos should resign over school reopening guidance The Hill's 12:30 Report - Presented by Facebook - You might want to download TikTok now MORE on Wednesday encouraged colleges and universities considered to be "elite, wealthy institutions" to forgo the aid provided to them in the Coronavirus Aid, Relief and Economic Security (CARES) Act, freeing the money up for other institutions that need the assistance more.

"Congress required by law that taxpayer Emergency Relief funds be given to all colleges and universities, no matter their wealth. But as I've said all along, wealthy institutions that do not primarily serve low-income students do not need or deserve additional taxpayer funds," DeVos said in a statement.

She added, "This is common sense. Schools with large endowments should not apply for funds so more can be given to students who need support the most. It's also important for Congress to change the law to make sure no more taxpayer funds go to elite, wealthy institutions."

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The CARES Act created the Higher Education Emergency Relief Fund (HEERF) — roughly $14 billion in aid for higher education institutions. From HEERF, $12.56 billion is allocated to institutions through a formula that takes into account a school's enrollment and its number of low-income Pell Grant-eligible students.

To get their allocated aid, schools have to sign an agreement that ensures the funding is appropriately spent. According to a letter DeVos sent to institutions on April 9, "at least 50 percent must be reserved to provide students with emergency financial aid grants to help cover expenses related to the disruption of campus operations due to coronavirus."

DeVos on Wednesday barred undocumented students, including beneficiaries of the Deferred Action for Childhood Arrivals program, from receiving aid from their institutions.