By the 15th of December, hundreds of Atlanta students should receive a $6,300 holiday stimulus payment as a pleasant surprise, according to The Sun. With student loan debt now at over $1.7 trillion, the stimulus payments couldn’t come at a better time.
Morehouse School Of Medicine
The American Rescue Plan Act of 2021 is intended to assist the United States in its recovery from the devastating effects of COVID-19 on its economy and health. This economic rescue package is one of the most expensive in American history.
One Atlanta school has taken action to make things easier for its students. According to AS, at Atlanta’s Morehouse School of Medicine, students will be given a $6,300 grant to help them reduce their student loan debt. The money will be delivered to Morehouse Medical School students by the 15th of December.
One of the president’s goals is to assist their currently enrolled degree-seeking students by providing additional financial and mental health support costs such as childcare, transportation; food; housing; and healthcare. In early December, an email was sent to the entire student body with these words, as per The Atlanta Journal-Constitution.
Higher Education Emergency Relief Fund
Federal Coronavirus Aid, Relief, and Economic Security Act money was used to fund this initiative, passed by Congress and signed into law by then-President Donald Trump in March of 2020. In the wake of the coronavirus pandemic, the massive $2.2 trillion bill was passed to aid the country’s citizens and businesses.
HEERF, the Higher Education Emergency Relief Fund, initially included $14 billion for US colleges and students. In January, the feds added $21.2 billion to HEERF. The American Rescue Plan added $39.6 billion in March, and that plan gave Morehouse $56.4 million. Ninety percent of Morehouse’s medical students are eligible for need-based financial aid, which can reduce the number of student loans they will have to repay when they finish their studies.