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COVID-19 Related News and Your Personal Finances 
Understanding your personal finances in a pandemic environment means staying up to date with all things COVID. 

The Overall State of the Economy
Currently, the economy is slowly improving for several key reasons. First, unemployment claims are generally in decline, meaning more people are returning to work. This matters since more jobs reflects a recovering economy and greater potential for consumers to spend money!

Second, many US households received some type of financial assistance in the form of stimulus payments and expanded unemployment benefits through the Coronavirus Aid, Relief, and Economic Security Act also known as the CARES Act.  For college students, the CARES act provided emergency financial aid grants for expenses related to the disruption of campus operations due to the coronavirus. The added income helped provide some cushion when layoffs, furloughs, and unanticipated transitions were on the rise. There is still much uncertainty about economic gains in the coming months, so stay up to date!
For more information on economic recovery, visit the links below
How does today's news impact you as a student?

Healthy money management techniques can mitigate the impacts of the pandemic. Reducing spending habits, such as eating out or purchasing costly groceries, and sticking to a budget can do more for your long-term financial wellness than you think! Another important aspect is continuing to exhibit appropriate pandemic behavior, which increases the odds that you can work, study, and continue to invest in long-term goals:

Frequently wash your hands
Follow recommended social distancing measures
Regularly disinfect your phone and credit, debit, and cards
What is the CARES Act? (Top Takeaways)
  • Mandates that students won't be subjected to involuntary collection on defaulted loans
  • Provides over $13 billion in grants and scholarships to higher education institutions 
  • Deferred interest payments on student loans until September 30th, 2020
  • Gave some colleges and universities financial support to pay for work-study positions disrupted by the pandemic
IN OTHER NEWS
Visit our Website
UPCOMING EVENTS
(Fall 2020 tentative event schedule)
October
Your Personal Finances During the Pandemic 
Budgeting and Saving


November
Preparing for Life After College
Growing Your Money
Q&A

In need of budgeting strategies? Wondering how to prepare for life after college? Email Common $ense about some of your most pressing personal finance or financial literacy related questions 
gucs@georgetown.edu
JOBS!

Did you know that SEO will be sending out jobs of the day on their social media accounts?

Follow them on Facebook or Twitter at @GeorgetownSEO  
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