What About the College Students?

The financial impact of the Covid-19 crisis is being felt by everyone. Calls for help by small businesses, the unemployed and families have been answered with some sort of financial assistance. However, there is one group that seems to be neglected during this crisis - the college students. Many students are finding themselves suddenly unemployed this summer. Many summer internships that the students competitively fought to secure have been suspended due to the coronavirus crisis. Summer camps, a major employer of college students, are up in the air as to whether their programs will be proceeding this summer. In addition, summer positions that are typically available in the restaurant industry and the travel and entertainment industries are not available. Compounding the situation is college students are now competing for jobs with those that have lost their jobs. Bottomline is many college students will not be earning the summer income that they depend on to help them pay for tuition, housing costs and living expenses during the academic year. Will they be able to secure some income by the fall semester?

If New York does not enter Phase 4 by the fall semester and in-person class restrictions still apply, then it would be assumed that this would relieve financially struggling students from having to pay housing expenses because they could stay home and take classes online. Well, this may be the case for those enrolled in on-campus housing but not for those that signed off-campus leases way before anyone even heard of Covid-19. Most likely, those students will still be responsible to make the rent payments on their lease, whether campus is open for classes or not. In many cases, the lease payments are guaranteed by a parent or guardian. If students will still be responsible for rent payments, whether campus is open or closed, they may be inclined to move into their off-campus housing with their housemates. The prospect of the students only mingling with their housemates may be a pipe dream and this may result in a sharing of more than Corona beers.

However, one way to provide financial help to college students and to promote social distancing would be to offer financial relief or assistance to college students for their off-

campus housing costs if New York continues the restriction on in-person classes this fall. This would encourage students to stay home during the fall semester while providing them with the financial help that they need. It is their turn to receive assistance.

#Covid19 Relief #college #debt

Kimberly Berson is an attorney that has been practicing for over 25 years. Her practice is focused on bankruptcy law and related litigation. She served as an assistant adjunct professor of legal studies and an instructor of paralegal courses. She provides debt relief for individuals and businesses. Please visit her website at kbbankruptcylaw.com. You may contact her at 516-847-5122 or kbersonlaw@gmail.com