In the wake of COVID-19, the American Rescue Plan Act of 2021 was enacted to aid the country’s economic recovery. In terms of dollars, this economic rescue package is among the most costly in American history. A $40 billion fund for students was established under President Joe Biden’s American Rescue Plan. To help students with the costs of education, healthcare, and other necessities as they pursue their degree, the payments are made.
Congressional approval of the American Rescue Plan Act of 2021, the third stimulus package to be implemented during the COVID-19 pandemic, followed the Consolidated Appropriations Act of 2021 in December 2020, according to The White House. While the terms of these bills are being extended, new ways of recovering debt are also being developed.
Following an international pandemic, Congress had to pass three stimulus bills: the CARES Act (March 2020), the CRRSAA (December 2021), and the American Rescue Plan (June 2021). Every one of these bills referred to the Higher Education Emergency Relief Fund (HEERF). Funding is available for students and institutions affected by the COVID-19 outbreak, which necessitates significant changes in instruction.
Some Schools That Are Giving Stimulus Checks
- After more than $1.7 trillion has been spent on student loans, the stimulus payments couldn’t have come at a better time. As reported by AS, the Morehouse School of Medicine in Atlanta is offering a $6,300 grant to assist students with their student loans in an effort to make things easier for their students.
- Government stimulus funds received during the pandemic gave out grants totaling $3,000 to George Washington University students, according to The GW Hatchet. The American Rescue Plan, headed by President Joe Biden, provided more than $12 million in student aid to more than 10,000 individuals.
- Students at Meharry College were awarded $10,000 in grants and a total of 1,000 students were given the payments.
- Bushnell University awarded $642,674 to 206 students.
- Grants totaling $1,800 were awarded to 31,000 Penn State students and additional funding is available for students who can demonstrate a high level of financial need.
- More than $15.5 million in federal funding will be used to award students between $1,500 and $2,500 in block grants at the University of Rhode Island.
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