Under President Joe Biden's American Rescue Plan and the Higher Education Relief Fund, almost $40 billion worth of pandemic relief was set aside for students and institutions.
Colleges across the United States have been sending out stimulus checks to their students to help cover the costs of attending college. According to GW's College of Professional Studies, George Washington University received $9.1 million during the first round of stimulus funding and nearly $14 million in the second and third rounds.
Those who had enrolled on or after March 13, 2020, were eligible to apply for the funding. Medical school Medscape says Meharry Medical College sent $10,000 worth of grants to most of its 956 students. Bushnell University delivered $642,674. Meanwhile, Penn State handed out grants worth up to $1,800 to more than 31,000 students in the first round of funding.
Those in dire need of support can file an application to receive funding worth $1,000. Meanwhile, Penn State has sent out grants to more than 31,000 students in its first round of funding. The grant is available to those who didn't qualify for the initial round.
Florida State University sent out $17.7 million worth of grants to 16,000 students last month. Those who are eligible at Duke University will receive a grant of either $1,750 or $3,000. Funds are designed to help students cover the costs of education, food, housing, healthcare, and or childcare.
Payments are set to be sent out this month. Also, students who qualify from the City University of New York, will be receiving grants this month as well. Students will receive a "minimum base grant amount." The base amount varies by college and is also tied to the Estimated Family Contribution calculation and other information included in the student's FAFSA and their 2021 enrollment.
The University of Rhode Island received over $15.5 million in funds from President Biden's American Rescue Act. They are currently distributing the grants. These grants can vary between $1,500 to $2,500 depending on family status and the number of college credits received.
As students are beginning to receive much-needed stimulus money, families are receiving the final round of advance child tax credit payments next week. Those with kids under six may end up with $300 per child, while those with kids between 6 and 17 could receive $250 per child. When tax returns are filed, taxpayers will be able to claim $1,800 per child.