The child tax credit from President Joe Biden’s coronavirus rescue package will start hitting the pockets of American families next month, and those with full-time college students may be eligible for an additional $500 benefit.

Biden’s relief bill included the Child Tax Credit, which sends families with children aged seventeen and under monthly payments per dependent. But the credit also provides a one-time payment of up to $500 for eighteen-year-olds and those who are between the ages of nineteen and twenty-four and are full-time college students.

So, if a family has two children who are enrolled in college at a full-time level, that family could receive an extra $1,000 in addition to any other child tax credit for separate dependents.

Eligible recipients of the child tax credit, as well as the one-time payment for college students, include individuals earning up to $75,000, joint filers making up to $150,000, and heads of households making up to $112,500. The amounts drop by $50 for each $1,000 in income above these thresholds.

Biden’s American Rescue Plan also increased the child tax credit from $2,000 to $3,000 and allowed parents with children under the age of 6 to qualify for $3,600.

But rather than receiving the money as a lump-sum, parents with children under the age of 6 will get $300 monthly payments per child from July through December, while those with children between the ages of 6 and 17 will receive $250 payments for each dependent.

The IRS also launched an online tool this week for low-income families who qualify for the child tax credit but don’t normally file taxes. The non-filers tool asks users to register with their name, address, and Social Security numbers, and the agency will automatically determine their eligibility based on the provided information. No further action is needed to receive the child tax credit.

“At Treasury, our goal is to make sure that every American can get the relief funding they need as simply as possible,” Treasury Secretary Janet Yellen said in a statement. “We know working families can't put off paying for doctor's visits or grocery bills, and this new tool will help more people get their tax credit every month, starting in July.”

The IRS noted that most credits will be issued by direct deposit, while some of the relief will be distributed by paper check or prepaid debit card.

The payments will be issued monthly, starting on July 15, followed by August 13, September 15, October 15, November 15, and December 15.

Rachel Bucchino is a reporter at the National Interest. Her work has appeared in The Washington Post, U.S. News & World Report, and The Hill.

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