Fourth Stimulus Check: $6300 Stimulus Money for Students, Up to $1400 Plus Up Payment

Americans waiting on the fourth stimulus check are getting an update. A few officials found an initiative to allocate stimulus checks for students currently enrolled in selected schools. Eligible families are also recommended to watch out for the IRS plus-up payments, which could drop later this month.

Many citizens are getting concerned with economic inflation. This applies to most necessities like groceries, gas, electricity, rental bills and other related expenses. Because of this, they are eagerly waiting on another round of stimulus check payments. Fortunately, there are two ongoing programs that can grant eligible Americans a few hundred dollars.

Stimulus Check for Students: $6300 Payments

According to Marca, payments worth $6,300 per student are being allocated to the Morehouse School of Medicine. This program made use of the funding provided by the Federal Coronavirus Aid, Relief, and Economic Security Act. The school is budgeting for more than 750 students currently enrolled in their school.

Their school president, Valerie Montgomery Rice, said that the "Morehouse School of Medicine will provide a financial gift of $6,300 to assist each of our currently enrolled, degree-seeking students with additional academic, financial, and mental health support costs such as childcare, food, transportation, housing and healthcare needs," per Marca.

However, it should be emphasized that the money could only be used on products and services that help the students complete their degrees. These expenses include childcare, food, housing bills, transportation bills and healthcare needs.

The payments were initially scheduled to come out on Wednesday. Unfortunately, the Federal Education Department officials stopped the program to review the plans. Payments will only resume after officials have completed their investigation. Unfortunately, no time frame was given for this development.

It is also worth noting that the Meharry Medical School in Nashville is preparing a similar program. They are reportedly allocating $10,000 payments to more than 900 students currently enrolled in their school.

IRS Plus-Up Payments: How to Get the Stimulus Check

Another helpful financial aid program is the incoming plus-up payments from the stimulus checks. According to Marca, these payments credit up to $1,400 per eligible adult, and the payments are due by December 31.

For reference, plus-up payments are extra money allocated to eligible Americans who received less than they should with the first, second and third rounds of stimulus check payments. This error often happens when their budget is based on the 2019 tax returns instead of 2020.

Americans eligible for plus-up payments are people who recently lost their jobs, or families who just got a new baby. These situations can credit an eligible taxpayer extra money for the changes on their circumstances.

As previously indicated, the IRS will be using the 2020 tax returns to inspect on the change of circumstance. As such, Americans who want to join in the program should have filed in their 2020 tax returns before the deadline.