GUEST STUDENT OF THE WEEK: Rohan is a freshman at Dartmouth (and loves it) having gotten in ED for the Class of 2023. He's here to debunk myths regarding admissions and student life at his school. ASK HIM ANYTHING!
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Covid-19 relief package (The CARES Act)
Do you have any thoughts on college students 17 years and up not receiving any benefit from this package if they are claimed as dependents on their parents' tax return? An 18 year-old and up will be eligible for neither the $1,200 as an adult, nor for the $500 as a dependent. I believe these special circumstances call for an exception to the tax rules and the inclusion of this group in this package or at least future aid packages since we don't know how long these pandemic-related orders will last. There is the option of not claiming them on the 2019 tax return but that will come across as gaming the system and may still make them ineligible anyway. The inequities will be huge since parents with dependents 16 and under will get $1,000 in Child Tax Credit and an additional $500 with this relief package. Parents with 17 years-old and up get Earned Income Credit of (I believe) $500 and $0 from the relief package. It is more expensive IMO to feed say a 17 through 23 year-old, than it is say a 3 to 10 year-old. This is not an entitlement issue, I'm seeking thoughts on this equity issue. TIA2 replies
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