Today, the U.S. House of Representatives voted 220-211 to approve the American Rescue Plan Act of 2021, a $1.9 trillion COVID-19 relief package. The House approved the version of the bill that the Senate approved on March 6. The bill includes $39.6 billion for institutions of higher education and students. It also includes a provision that any loan forgiveness received in the near term will not be included as income for an individual’s tax purposes. Next, the legislation goes to President Biden for his signature.