Board 8 > Can somebody explain to me the CARES Act?

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Moonroof
05/22/20 10:36:51 PM
#1:


I understand that it pays for Coronavirus-relaid debt or something? All I know about it is one example which makes me sick.

I have a friend who has been in nursing school for about two years now. She is due to graduate in December. Apparently she hasn't paid basically any of her tuition aside from a couple hundred bucks.

So it turns out that the CARES Act, which was part of Trump's $3 trillion relief package, not only completely paid her entire tuition but also sent her a $1,700 check.

Meaning all those people who were responsible and paid their tuition on time are screwed because they aren't getting reimbursed nor paid.

What the fuck?
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xp1337
05/22/20 10:45:32 PM
#2:


uh that's not what cares does at all if i recall correctly.

Federal student loan payment was suspended for six months and applied it retroactively to March (and interest will not accrue for these six months). If you paid after March 13 I think you could request a refund but actually paying off tuition is... not something that happens under CARES afaik.

like the debt is still there there's just a six month period where payment and interest is suspended

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xp1337: Don't you wish there was a spell-checker that told you when you a word out?
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Moonroof
05/22/20 10:48:10 PM
#3:


Idk. Thats what she told me. And thats what the check said.
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Aecioo
05/22/20 10:56:13 PM
#4:


Moonroof posted...
Idk. Thats what she told me.

She a liar or just dumb?

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Moonroof
05/23/20 12:39:26 AM
#5:


Heres what she received:

Information for Students

The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid provides funding to institutions to provide emergency financial aid grants to students whose lives have been disrupted, many of whom are facing financial challenges and struggling to make ends meet. Students cannot apply for assistance directly from the U.S. Department of Education but should contact their institutions for further information and guidance. Institutions have the responsibility of determining how grants will be distributed to students, how the amount of each student grant is calculated, and the development of any instructions or directions that are provided to students about the grant.

The funding opportunity number is ED-GRANTS-041020-003. If you have questions concerning this program, please submit them via e-mail to [email protected], or by phone, at 202-377-3711
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HanOfTheNekos
05/23/20 1:34:52 AM
#6:


The CARES act is that everybody who has paid their student loans off gets their credit score docked by 200 points and people who have never had a job in their life get 500330 dollars.

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foolm0r0n
05/23/20 2:06:30 AM
#7:


I just texted her this topic and she said TC has been stalking her and making up lies about her all the time

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_foolmo_
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Peace___Frog
05/23/20 8:51:37 AM
#8:


It gave billionaires more money under the guise of helping them pay their workers but they're not forced to. So the stock market went up, which should help you become unsick.

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Moonroof
05/23/20 9:28:55 AM
#9:


Well at least theres that.
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WazzupGenius00
05/23/20 11:23:28 AM
#10:


Moonroof posted...
The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid provides funding to institutions to provide emergency financial aid grants to students
So if her institution is choosing to use the aid in that specific way, thats their decision. The school gets their money, so why should they care whether or not she had paid any yet?

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Moonroof
05/23/20 11:31:17 AM
#11:


Ah, so the school made the decision to use the money for students who didnt pay.
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