The $1.9 trillion stimulus package signed by President Joe Biden allocates $21.55 billion to the Emergency Rental Assistance program to provide rent assistance for those in need.
[Stay on top of all the new stimulus bill developments – Sign up for the Kiplinger Today E-Newsletter (opens in new tab). It's FREE!]
Eligible recipients can use the funds to pay for rent, utilities and other energy costs. To qualify, your household must not exceed 80% of your area’s median income and at least one member of your household must have qualified for unemployment or experienced financial difficulties because of the pandemic. You can receive up to 12 months of assistance, plus an additional three months if you’re at risk of homelessness. Maximum payouts may be determined by your state or local housing assistance program.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of Kiplinger’s expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of Kiplinger’s expert advice - straight to your e-mail.
To apply, households (or their landlord) must submit an application to their state or local housing rental assistance program. Once approved, the local agency distributes funds directly to the landlord or your utility provider.
The bill also allocates $5 billion in emergency housing vouchers for those who recently became homeless or are on the brink of homelessness. The voucher fund will be available through September 2030.
-
-
Volunteering and Donating Can Deliver Feel-Good and Tax Benefits
Giving to others – whether it’s our time, our financial resources or both – can confer a multitude of benefits.
-
Before Living Together, Couples Should Get on the Same Page Financially
Knowing where each partner stands in financial discussions will go a long way toward keeping the peace in the relationship, even when it comes to issues like long-term care insurance.
-
Student Loan Forgiveness Blocked For Now Due to Court Ruling
For now, a Texas federal court ruling has caused the Biden administration to block new applications for student loan forgiveness.
-
Student Loan Refunds Are Real, But You Might Not Be Eligible
student loans Since President Biden announced student loan debt relief, there has been a lot of talk about student loan refunds, which surprisingly have been around for a little while.
-
Fed Signals That More Interest Rate Hikes are Coming
interest rates The stock market may have hoped that the Federal Reserve will soon slow down its pace of increasing interest rates, but the Fed chair had a different message for the markets.
-
Biden's Student Loan Forgiveness: What it Means for You
student loans Biden’s long awaited announcement on whether or not his administration will forgive a portion of federal student loans is in. Here’s what it means for you.
-
How Congress Might Ease the Pilot Shortage
travel Congress is debating how to fix the current pilot shortage, and one idea revolves around retirement age.
-
COVID’s Financial Toll Isn’t What You Think
Coronavirus and Your Money From a grandma’s retirement in ruins to a troubled teen inheriting too soon, COVID’s effects will last for generations. While nothing can prepare you for the pain of losing someone you love, a financial planner explains how preparation can lessen the financial devastation.
-
The Return of Student Loan Payments
Paying for College A pandemic reprieve on student loan payments ends in January. If you still need financial help, there are steps you can take.
-
New Platforms for a Comedy Couple
Coronavirus and Your Money COVID forced them to expand their stand-up repertoire to YouTube and podcasts.
