$400 | Common News Update

Apr92021 by adminNo Comments

Biden seeks extra $400 a year in Pell grants for college and to expand aid to Dreamers

Finance

Alex Wong | Getty Images News | Getty ImagesPresident Joe Biden asked Congress for a $ 400 annual increase in maximum Pell grants for college students as part of a budget proposal issued Friday.The president also called to broaden eligibility to undocumented immigrants known as Dreamers.Pell grants are available to undergraduate students who display exceptional financial need. Unlike loans, they generally don't have to be repaid.More from Personal Finance:New college grad job outlook looks promising for Class of 2021Biden tax plan may lead to more Roth retirement accountsMore colleges move to make vaccines mandatory for studentsIf adopted by Congress, Biden's budget would yield the largest one-time annual increase to the federal grants since 2009, according to the proposal, signed by Shal...

Dec222020 by adminNo Comments

The Covid relief bill gives $400 a week to some unemployed workers, but only if their state opts in

Finance

People wait in line at the Holy Apostles Soup Kitchen on Dec. 15, 2020 in New York City.Robert Nickelsberg | Getty ImagesThe latest coronavirus relief bill passed by Congress will give some unemployed workers an additional $ 400 per week — an extra $ 300 on top of state benefits authorized for most claimants plus another $ 100 for some who had multiple sources of income.But the extra $ 100 will only come if states opt in, and it could take more than a month for workers to see it in a weekly check.The additional $ 100 per week is a rough fix for so-called mixed earners — workers who had income filed on both W-2s and the 1099 forms used by freelancers, independent contractors and other self-employed workers. When filing for unemployment, these workers were often given state benefits th...

Nov262020 by adminNo Comments

You only have a few weeks to spend down this health-care fund. Meanwhile, savers forfeit around $400 million annually in unspent FSAs

Finance

AJ Watt | Getty ImagesAre you stocking up on cold and flu meds for the winter? Buying an at-home Covid-19 test kit? If so, you are running out of time to use this tax-advantaged account for those purchases.Health-care flexible spending accounts, which may be available at your job, allow you to stash pre-tax dollars and tap them free of tax for qualified medical expenses.In 2020 and 2021, you can save up to $ 2,750.Though you can use the money as early as Jan. 1, you generally have until the end of the year to use up your funds — or else you forfeit them.The IRS gives employers the choice of allowing workers to roll over some money into the following year — up to $ 550 for 2020 — or offering them up to 2½ months after the plan year ends to spend remaining cash.Bear in mind: Your employer ...

Aug212020 by adminNo Comments

Will you get an extra $300 or $400 unemployment benefit? It depends on your state

Finance

States are beginning to mobilize to pay out additional benefits to unemployed workers.Some are paying more than others.President Trump signed an executive measure Aug. 8 that offers a $ 300 weekly supplement to unemployment benefits.More from Personal Finance:Don't count on that extra $ 300 in unemployment benefits soonEvictions expected to skyrocket as protections come to an endWhy there's still hope for second $ 1,200 stimulus checksThe aid is part of a "lost wages" grant program being overseen by the Federal Emergency Management Agency.But states can opt to kick in an extra $ 100 a week — for a grant total of $ 400 a week, in addition to current state benefits.Kentucky and MontanaIt appears just two states — Kentucky and Montana — are opting to pay $ 400 instead of ...

Aug112020 by adminNo Comments

At least 1 million people may not get Trump’s $400 unemployment boost

Finance

President Donald Trump speaks at an Aug. 10 White House news conference.Alex Wong | Getty Images News | Getty ImagesAn extra $ 400Trump's executive order was one of four measures signed on Saturday to address jobless benefits, evictions, student loans and payroll taxes.Top Democratic lawmakers and White House officials have struggled to compromise on another round of broad coronavirus relief since negotiations began about two weeks ago.Unemployment aid was among the thorny issues holding up talks.A $ 600-a-week federal supplement to state unemployment benefits, offered by a prior round of relief, lapsed at the end of July, throwing jobless Americans' income off a cliff overnight.House Democrats passed a $ 3 trillion bill in May that would extend those $ 600 payments through early next ...