The federal government is providing stimulus checks to Americans in the coming weeks. This will force many college students to be determined as ineligible for a stimulus check. Stimulus checks can be taken from you to cover past due debt including child support, bank debts and private debt collections (though some states are now implementing their own rules to prevent private debt collectors from seizing stimulus checks). Past-due taxes, defaulted student loans and anything handled in bankruptcy proceedings cannot be situations where your stimulus check will be used as an offset. Read more: When Your Stimulus Check Can—And Can’t—Be Taken From YouFull coverage and live updates on the Coronavirus

Source: Forbes May 13, 2020 12:40 UTC