President Biden signed into law the $1.9 trillion economic relief package, known as the American Rescue Plan on the 11th of March 2021 (Thursday). With that college students will get stimulus plans which include direct payments, extensions to unemployment benefits, financial support from the college, and many more. After the announcement of the American rescue plan, many students started wondering about How To Get A College Student Stimulus Check?
Well, the answer to this is a big Yes! College students will get stimulus plans and in this article, We will be discussing what is included in the stimulus package for college students. So without any further ado Let’s get started.
The $1.9 trillion economic relief package, which is known as American Rescue Plan has included stimulus packages for college-going students. This stimulus package was incorporated to encourage and support college students and the education system as well. The stimulus plan for college-going students includes many benefits such as direct payments to individuals and families, extensions to unemployment benefits, financial support for college and universities, and tax breaks for low-income families.
We have discussed all these benefits in detail in this article below so that you can get in-depth knowledge regarding the stimulus package. So continue reading to know how college students get stimulus plans.
Key points you need to know about the $1.9 Trillion Economic Relief Package
- Under the economic relief package many adults will receive a one-time payment of up to $1,400 along with that they will also receive an additional $1,400 for each dependent person which also includes college students as well but they have quality Certain criteria which we have discussed below in the next section so read till the end.
- An amount of $40 billion will be provided to colleges and universities from which half of the funded money will be allocated to support the students who are in financial need. Students need to follow up a certain procedure to get access to these funds.
- An extension of 25 weeks ( September 6) is provided to unemployment insurance in which the recipients will receive an additional $300 per week as well as State’s unemployment benefits.
- A whopping amount of $22 billion has been made available for emergency rent and eviction relief which will be distributed by the cities themselves.
- Last but now least Expanded SNAP eligibility benefits are still available.
What are Stimulus Checks?
In the recent American Rescue Act of 2021 signed by president Joe Biden a whopping amount of $1.9 trillion is allocated in the American Rescue Act of 2021. The American Rescue Plan includes unemployment benefits, child tax credits as well as stimulus checks for financial relief to the unemployed citizens. College students can get the most out of this plan and here is how?
Do College Students Get A Stimulus Check?
Yes, College students can get a stimulus check if they qualify by certain criteria laid down by the government. The dependent 17 years or above old cannot get the first or the second stimulus check but they can surely get the third stimulus check. How? Read the section below to know how do college students can get stimulus checks?
Here’s How To Get A College Student Stimulus Check | 5 Easy Ways
1. Stimulus Checks
So there are two ways to get a stimulus check if you are a college student. The two basic criteria to qualify for a stimulus check as a college student are that you are supposed to be 18 years of age or older and you must have Filed your taxes for 2019 or 2020. Other than these requirements To get the stimulus check you have to qualify certain criteria given below
Criteria to qualify to get a stimulus check if you are a college student
- You should be 18+ or more
- You must have Filed your taxes for 2019 or 2020.
- If you are a Dependent college student- In this particular criteria if you are a college student who is dependent on their family or guardian which also means someone claims you on their income tax return, then the person can avail of a one-time $1,400 stimulus check. If you are claimed as a dependent or could have been claimed as a dependent, you will not receive your check. If your parent or legal guardian claims you as a dependent on their federal tax returns, they will receive a one-time payment of $1,400 for each dependent. This includes college students who are claimed as dependents. As this is a one-time check many members of Congress have appealed to give out $2,000 stimulus checks every month until Covid-19 is over.
- If you are an independent college student: if you are an independent college student then you qualify for a third stimulus check. To make it even more clear if you are a financially independent college student and you provide more than half of your financial support, and nobody claims you on their income tax return in particular then you could qualify for a third stimulus check. But you need to remember that there is a particular income threshold you need to qualify for getting the third stimulus check which also applies to college students.
In simple words, if your adjusted gross income on your most recent tax returns is –
- Individuals: $75,000 or less
- Head of Household: $112,500
- Married/Joint Filers: $150,000
Then you can qualify for getting the third stimulus check.
You will receive a partial payment if you made more than $75,000 for individuals and $150,000 for married couples. You will not receive any stimulus check if you have an income of $80,000 for individuals and $160,000 for married couples.
2. You Can Get Extended Unemployment Insurance
Many college students prefer to have a job while studying in college to aid their education m so in this case, if you are a college student with a Full time or part-time job and you somehow lost it you may qualify for unemployment insurance. College students can still get unemployment insurance even if they get the stimulus check.
So to apply for unemployment insurance, you have to contact the state’s unemployment office to get the detailed requirements and amount of unemployment insurance According to your requirements and qualifications. An amount of $300 per week has been included in the unemployment benefits ( Ending September 4, 2021) of the American rescue plan of 2021.
3. If You Have A Child Then You May Get $300 a Month.
According to a survey, more than 20% of college students have children. So according to the American rescue plan if you have children you may get a $3,600 cash allowance for children under age 6 in your stimulus package which Also means you’ll get a $300 check every month. Other than that if you have children between the ages of 6 to 17 you’ll get a $3,000 cash allowance which means a $250 check every month. This is a great decision as compared to the previous child tax credit was an annual benefit that was only $2,000. The plan might be temporary under the new stimulus package, but President Joe Biden wants $300 checks every month for children to become permanent.
4. You Can Get Get $40 Billion Of Emergency Aid From Your College
$40 billion of financial aid has been included in the stimulus package for colleges and universities. This is to be done via an extension of the Higher Education Emergency Relief Fund to help colleges and universities that are struggling financially or that don’t have large endowments. The takeaway point for college students here is that Universities and colleges will be spending about half of the allocated money and funds on emergency, need-based financial aid for students. This also includes student loans, scholarships, and grants, for example, to help students with tuition and housing.
5. Get Access To More Financial Aid
The Covid-19 pandemic has negatively affected the financial status of many people which also including student loans and financial aid too. So if you are one of those whose financial status and circumstances have been changed and degraded then you must update your income on the Free Application for Federal Student Aid (FAFSA). If you are a college student paying off student loans and enrolled in an income-driven repayment plan you can change and recertify your change income as a result of Covid-19 you could get a lower monthly student loan payment.
Follow the steps given below to update your income
Step 1: Log in to FAFSA at fafsa.ed.gov
Step 2: Now Select “Make FAFSA Correction”
Step 3: lastly Update your income and save changes.
So we hope by now you know how to get a stimulus check as a college student and other benefits available in the American rescue act 2021 as a college student. You can easily get 3rd stimulus check if you are an independent college student and if you are a dependent college student your parent or guardian can get a one-time $1,400 stimulus check.
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