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I'm guessing most people are at least somewhat aware of what was passed in the stimulus package, but just in case!
Check to individuals based on income/family size.
It's complicated, but the link below is pretty good. Most of the people on this forum make too much for it, but it might be helpful to the residents/fellows. It will be doled out based on your 2018 or 2019 tax filing (whichever is your most recent filing), but is truly based on your 2020 income. We will get the full amount this year, but will be paying it back next year when we do 2020 taxes since DH starts The Job in July. In theory someone who had a high 2018/2019 income that dropped in 2020 might get it next tax filing.
https://www.nytimes.com/article/coro...s-answers.html
Student Loan Payments
https://www.forbes.com/sites/zackfri.../#458cfcd01b10
This is the one everyone on here should be aware of if you have federal student loans!! First of all, you need to check and make sure your loans qualify, but those taken out within the past 10 years should. No payments are due til Sept 30 and no interest will accrue. Your loan servicer is supposed to make you aware of it, but let's be honest, they usually suck so you might have to hunt for the info.
If you are paying monthly, you can still do so. The payments will go directly to principal instead of interest (or a combo of P &I)
If you think you are going to be feeling a financial squeeze from the effects of all this, maybe consider setting aside the amount of your payment each month. If you need the money as an emergency fund, it is there. If you don't, you should be able to make a giant payment before the Sept 30 date and it will still all go entirely towards the principal of your loan.
We were planning on paying off ours with the proceeds from our home sale. Since we don't know when that is going to happen, we plan on not making payments til Sept 30. Even if we sell the house, I'm inclined to see who is elected in November before making the payoff.
Check to individuals based on income/family size.
It's complicated, but the link below is pretty good. Most of the people on this forum make too much for it, but it might be helpful to the residents/fellows. It will be doled out based on your 2018 or 2019 tax filing (whichever is your most recent filing), but is truly based on your 2020 income. We will get the full amount this year, but will be paying it back next year when we do 2020 taxes since DH starts The Job in July. In theory someone who had a high 2018/2019 income that dropped in 2020 might get it next tax filing.
https://www.nytimes.com/article/coro...s-answers.html
Student Loan Payments
https://www.forbes.com/sites/zackfri.../#458cfcd01b10
This is the one everyone on here should be aware of if you have federal student loans!! First of all, you need to check and make sure your loans qualify, but those taken out within the past 10 years should. No payments are due til Sept 30 and no interest will accrue. Your loan servicer is supposed to make you aware of it, but let's be honest, they usually suck so you might have to hunt for the info.
If you are paying monthly, you can still do so. The payments will go directly to principal instead of interest (or a combo of P &I)
If you think you are going to be feeling a financial squeeze from the effects of all this, maybe consider setting aside the amount of your payment each month. If you need the money as an emergency fund, it is there. If you don't, you should be able to make a giant payment before the Sept 30 date and it will still all go entirely towards the principal of your loan.
We were planning on paying off ours with the proceeds from our home sale. Since we don't know when that is going to happen, we plan on not making payments til Sept 30. Even if we sell the house, I'm inclined to see who is elected in November before making the payoff.
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