Jul 6, 2020, 3:58 PM
(From Journal of Accountancy) President Donald Trump signed signed into law a bill extending the Paycheck Protection Program (PPP) for another five weeks until August 8. The extension keeps a source of funding open to struggling small businesses while Congress works on a second, more targeted funding program. Some $130 billion in loan money allocated to the $670 billion program remains unspent.
More from Journal of Accountancy
(From The New York Times) Though more than three-quarters of colleges and universities say they are planning for in-person classes this fall, thousands of instructors across the country have told administrators that they are unwilling to resume in-person classes because of the pandemic. A Cornell University survey of its faculty found that about one-third were “not interested in teaching classes in person,” one-third were “open to doing it if conditions were deemed to be safe,” and about one-third were “willing and anxious to teach in person,” according to Michael Kotlikoff, Cornell’s provost.
(From NPR) Over 750 faculty at Georgia Tech signed a letter to the University System of Georgia's Board of Regents saying that the school's plan to reopen campus without face mask requirements is dangerous and not based on science. Georgia is one of 31 states that have not mandated people wear masks. The letter asks for several changes, including a mask-wearing requirement, and argues that these decisions should be made by Georgia Tech's president rather than the statewide university system. Joshua Weitz of the School of Biological Sciences at Georgia Tech posited that in a class of 50 students, at least one will be infected, and the absence of a mask requirement "significantly" increases the risk that the virus will be transmitted.
(From Inside Higher Education) Two universities that were planning on in-person fall terms are now reversing those plans due to the rise in coronavirus cases. In announcing the decision, The University of Southern California cited “an alarming spike in coronavirus cases, making it clear we need to dramatically reduce our on-campus density and all indoor activities for the fall semester.” Meanwhile, Hampton University in Virginia, announced it will also reduce tuition and fees by 15% for the remote-only fall semester.
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