Following CARES Act Unemployment Benefits Expiration, Options and Outstanding Questions Remain for Working Students – NASFAA
As the novel coronavirus continues to spread, Americans across the country are grappling with the worst economic recession and highest unemployment rate since the Great Depression. Among the millions of individuals impacted by job losses are thousands of college students and recent graduates.
Many working college students were previously ineligible for traditional unemployment insurance (UI) programs due to insufficient work history, not earning enough to qualify for the minimum benefits, or being considered “unable and unavailable to work” as a result of being enrolled as a full-time student.
Fortunately, the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law in March created the Pandemic Unemployment Assistance (PUA) and Pandemic Unemployment Compensation (PUC) programs. These programs expanded benefits eligibility to workers impacted by COVID-19 and substantially increased the amount of assistance by providing an additional $600 each week on top of UI benefits calculated by each state (which are, on average, a minimum of $190 per week).The additional $600 in benefits began in late March and expired at the end of July 2020. Among those included in expanded PUA eligibility were full-time students who were also working prior to the pandemic. NASFAA’s previous coverage explored working students’ and new graduates’ eligibility for the CARES Act unemployment benefits.