Coronavirus Relief Flexibility for Students and Institutions Act This bill allows additional uses for higher education emergency relief funds and requires institutions of higher education (IHEs) to apply for such funds. Specifically, the bill permits IHEs to use emergency relief funds to defray expenses, including those related to lost revenue, incurred expenses, technology costs for distance education, faculty and staff training, and payroll. Currently, the use of such funds is limited to the delivery of instruction due to the coronavirus (i.e., the virus that causes COVID-19). Further, IHEs must apply to the Department of Education to receive such funds.