Will There Be A Stimulus Package For College Students

College students could potentially be looking at up to 1 800 in covid relief stimulus checks in 2020.

Will there be a stimulus package for college students. 5 statement from irs commissioner. A lot of college students who are listed as adult dependents on their parents tax returns are wondering whether they will qualify for the second round of covid 19 stimulus checks the answer is no. Media coverage of the coronavirus aid package has correctly described why most college students can t collect stimulus checks.

Now read more. Eyecrave e getty images to be clear college students can get the second 600 stimulus check they just have to be financially independent according to a nov. The last relief bill passed back in march 2020 gave 1 200 to most adult americans but left out adult dependents meaning that many college students were ineligible for the financial help.

Senate would extend stimulus checks to adult. To be clear the cares act does not stipulate that an individual be an enrolled college. Shortly before the new year president donald trump begrudgingly signed a new omnibus stimulus package totaling some 900 billion worth of aid funding.

The bill awards 500 per dependent child to qualified taxpayers. The bill includes around 13 billion in aid for the agriculture industry and an additional 13 billion in nutrition assistance for a total of about 26 billion. Jennifer staton a tax specialist based in cleveland explained that college students will not receive the payments if they are claimed as dependents based on the american opportunity tax credit aotc.

But we may know the answer soon because the enhanced unemployment benefits run. The 900 billion stimulus package directs 600 to each child in a family as long as they are considered qualifying children under the irs tax code for the child tax credit. Many college students however were claimed as dependents on their parents tax forms rendering them unable to reap the benefits of the stimulus package.

The cares act the first covid 19 stimulus package was significantly larger at. It s looking up for college students in negotiations over the second round of covid 19 stimulus checks.