January 18, 2022

What is the $6,300 Incentive Check for Atlanta Students? Who is eligible?

Student debt in the United States reached historic levels. Total student debt in the United States has recently risen $1.7 trillion and some economists believe that as the economic recovery continues, this debt will become a drag on the economy. Rather than going out and spending money to drive growth, millions will spend their income on loan repayments that don’t offer the same benefits compared to: consumer spending.

To help students reduce their debt, Morehouse School of Medicine in Atlanta offers students a $6,300 grant which some call a holiday stimulus check.

Who is eligible?

students in the Morehouse Medical School will receive the check no later than December 15th. Medical school can be very expensive and the presidentt dr. Valerie Montgomery Rice said the check is for “each of our current” enrolled, degree-seeking students with additional academic, financial, and mental health costs such as childcare, food, transport, housing and healthcare.” These words come from an email sent at the beginning of December at the student association.

About ninety percent of the students who go to Morehouse for medical school, receive need-based financial aid, and this check can help them reduce the amount of loans they have to repay once they graduate.

Where did the money come from?

The money for the incentive checks comes from the Aid, aid and economic security from the coronavirus (CARES) law passed in March 2020. Higher education institutions were one of the main beneficiaries of the CARES Act. About $14 billion was allocated to the Emergency Relief Fund for Higher Education (HEERF) for colleges and students. Under the US bailout plan, an additional $21.2 billion was added to the fund. About 1,700 community colleges and four-year colleges and universities received funding through the HERF.

of the more than $34 billion allocated in total, and $446 million set aside for historically black colleges and universities, Morehouse School of Medicine received around $56.4 million.

Meharry Medical College in Nashville will be their 956 students a check for $10,000 upon receipt of money of the LORD also.

The full extent of the projects undertaken to support students in campuses across the country will be announced sequentially early next year institution reports on how they have individually decided to allocate the funds.

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