With student loan debt now totaling more than $1.7 trillion, the stimulus payments couldn’t have come at a more reasonable period. To make things easier for its students, a school in Atlanta has taken action; the Morehouse School of Medicine in Atlanta is offering a $6,300 grant to help students with their student loans, according to AS.
Morehouse School Of Medicine
In order to assist their currently enrolled degree-seeking students, one of the president’s goals is to provide additional financial and mental health support costs such as childcare and transportation as well as food, housing, and healthcare. According to The Atlanta Journal-Constitution, an email was sent to the entire student body in early December with these words in the subject line. Morehouse Medical School students will receive the money by the 15th of December.
According to the American Rescue Plan Act of 2021, the United States will receive assistance in recovering from the devastating effects of COVID-19 on its economy and health in the coming years. This economic stimulus package is one of the most expensive in the history of the United States.
Higher Education Emergency Relief Fund
This initiative, which was passed by Congress and signed into law by then-President Donald Trump in March of 2020, was made possible by funds provided by the federal Coronavirus Aid, Relief, and Economic Security Act. As a result of the coronavirus pandemic, the country’s citizens and businesses were provided with a massive $2.2 trillion bill to help them recover.
HEERF, or the Higher Education Emergency Relief Fund, was established with a $14 billion initial allocation for colleges and students in the United States. The federal government increased its contribution to HEERF by $21.2 billion in January. Morehouse received $56.4 million from the American Rescue Plan, which increased its assets by $39.6 billion in March. Ninety percent of Morehouse’s medical students qualify for need-based financial aid, which can help them pay off their student loans faster when they graduate.
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