Economics

COVID-19 Relief Programs: Here’s who can help

This article is part of our series on the ongoing coronavirus pandemic. Make sure to also check out our guides to student loan relief, direct payments,  the Paycheck Protection Program, and the costs of testing & treatment.‍

Not surprisingly, the economic effects of COVID-19 have begun to take a toll on the average American; more than 16 million Americans have filed for initial unemployment benefits since mid-March. Twenty-one states and territories have seen more than 1-in-10 eligible workers file for claims in the last month, and Oxford Economics forecasts that the unemployment rate will rise to 16% by May.

“We have moved to a recession that will be worse than the one we experienced in 2008.” - UN Deputy-Secretary-General Amina J. Mohammed

Luckily, relief programs and policies have been initiated at the national, state and local levels, and they’re here to help. We’ve compiled a list of some of them below:

AFL-CIO Survival Guide to Unemployment

If you are one of the individuals who have found themselves suddenly unemployed due to COVID-19, don’t panic. You are not alone, and you have a variety of options in front of you. This Survival Guide is one of our favorites- it outlines the first steps you can take to manage your situation.

Rent and Mortgage

If you are struggling to pay your mortgage due to COVID-19, check out some of the options provided in the federal CARES Act. The CARES Act put in place two protections for homeowners with federally backed mortgages:

  • A foreclosure moratorium
  • A right to forbearance for homeowners who are experiencing a financial hardship due to the COVID-19 emergency

If you don’t have a federally backed mortgage, you should still contact your mortgage servicer, as they are likely to offer separate relief options.

The National Apartment Association (NAA) advises all renters who are struggling financially due to COVID-19 to reach out and explain their circumstances to their landlords. Many states have taken action to pause or suspend renter evictions during the crisis, and many private landlords are willing to take similar measures to help renters. Find out whether your state is halting evictions here.

Food and other Essential Services

If you’re feeling lost and simply need someone to walk you through your options, United Way offers a hotline which allows you to speak with a live, highly trained service professional in your area. You can look up your local number here or call 2-1-1.

Also, legislation passed in the last few weeks suspended the Supplemental Nutrition Assistance Program (SNAP) work requirements for the duration of the crisis. This means that you may still be eligible for Snap benefits even during unemployment. Find out if you qualify here.

Medical Resources

One of the most important things you can do right now is make sure you and your family are safe and healthy. For many American families, there is no such thing as a quick check-up or hospital visit; healthcare costs have soared in recent years, and this can deter families from gaining access to the medical treatment that they need. Luckily, last month Congress made all COVID-19 testing and testing-related services free of charge. However, treatment isn’t necessarily covered. Find out more here.

Here’s one option for free or low-cost health insurance coverage for your kids:

    The
    Children’s Health Insurance Program (CHIP)
    is a federal government program designed to provide low-cost health coverage to children in families that earn too much money to qualify for Medicaid. In some states, CHIP also covers pregnant women. Find out more about what CHIP offers
    here
    .

Home Internet

As employees are increasingly encouraged to work remotely, and kids and college students have been sent home to learn, home internet has become one of the most necessary tools for surviving the COVID-19 pandemic. Luckily, internet service providers are adapting to the challenge.

  • Comcast’s Internet Essentials is taking immediate steps to make it easier to connect low-income families to home internet. New Internet Essentials customers will receive two free months of internet service if you apply by May 13, 2020. Find out if you qualify here.
  • Also, many internet providers have announced that they are waiving late fees, and not disconnecting users for late payments. Contact your provider to find out more.

Student Loans

According to the Federal Student Aid Office,

“To provide relief to student loan borrowers during the COVID-19 national emergency, federal student loan borrowers are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payment. This suspension of payments will last until Sept. 30, 2020, but you can still make payments if you choose.”

Find out more at studentaid.gov and debtly.app.

Mental Health

And finally, remember that one of the best things you can do for yourself is protect your emotional health. It is during times like these that stress and anxiety can become overwhelming. If this is true for you, here are few options that might help:

‍

You might also like:

Coronavirus checks explained: Here’s everything you need to know.

How the coronavirus stimulus package impacts your student loans.

How Your Small Business Can Get PPP Loans