$1,400 Stimulus Checks: Are College Students Eligible?

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$1,400 Stimulus Checks: Are College Students Eligible?

Working and unemployed adults and parents are surely eligible for the direct payments, but can college students also get their hands on the cash? Here’s the short answer: It depends.

In a mammoth effort to provide much-needed cash to millions of financially struggling Americans, the Internal Revenue Service has already sent out roughly hundred thirty million coronavirus relief checks under President Joe Biden’s American Rescue Plan.

Working and unemployed adults and parents are surely eligible for the direct payments, but can college students also get their hands on the cash?

Here’s the short answer: It depends.

If you are a dependent college student—meaning someone, like your parents, claims you on their income tax return, the individual who claims you can get up to a one-time $1,400 stimulus check. Then it would be up to the parent to decide whether or not to pass on those funds to you.

However, if you are deemed financially independent—meaning that you are able to provide more than half of your own financial support—you may indeed be eligible for that third stimulus check.

Like the rest of the adult population, keep in mind that there are income thresholds to meet in order to qualify for direct payment.

Individuals who earn as much as $75,000 in adjusted gross income (AGI), or couples making $150,000—in addition to their children or adult dependents—qualify for the full $1,400 per individual.

Moreover, single parents with at least one dependent who earn $112,500 or less also get the full amount. Families in which some members have different citizenship and immigration classifications are eligible for a payment if at least one person has a Social Security number.

The payments, however, phase out much more quickly than in previous rounds—an individual with an income of $80,000, or a couple with $160,000, will not be receiving any check.

As for when you can expect to see the cash land in your bank account, similar to the previous payments, direct deposit recipients would be the first to get the money, followed by those receiving physical checks, which can potentially take weeks to arrive by traditional mail, and EIP cards, a prepaid debit card that one must activate online before using.

If you’re still seeking a more concrete date on when the payment will arrive, know that you can always log on to the IRS “Get My Payment” tool at www.irs.gov/coronavirus/get-my-payment. To use it, you will just need to enter your full Social Security or tax ID number, date of birth, street address, and ZIP code.

However, be aware that some individuals will receive a message that says, “Payment Status Not Available.” “If you get this message, either we have not yet processed your payment, or you are not eligible for a payment,” the IRS says. “We will continue to send the 2021 Economic Impact Payment to eligible individuals throughout 2021.”

Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.