It wouldn’t hurt most college students to receive some extra money.

Many working students plan on receiving a check as part of the 2008 Economic Stimulus Package. But the package has provisions some students may not know about.

To qualify for the rebate, single tax filers must have a 2007 adjusted gross income of below $75,000 or, if filing jointly, $150,000. Individuals who do not file taxes are still eligible for either $300 or $600, depending on if the person makes more or less than $3,000.

Though many college students would qualify under these guidelines, according to the Internal Revenue Service’s Web site, “individuals who can be claimed as dependents on someone else’s return [are ineligible].” This means a number of students who are their parents’ dependents will miss out on the rebate.

Economics professor Khan Mohabbat said the reason for students’ ineligibility is to prevent families from getting a double rebate check.

Junior accountancy major Jake Matekaitis was aware of the rebate check and looked forward to receiving one. But, like other students, he was unaware of the exact requirements.

“This is unfortunate,” Matekaitis said after finding out he and other students will not receive the rebate.

DeKalb resident Jeffery Hay, who is filed as a dependent on his parents’ tax return, never thought he was going to get a rebate check from the government.
“I thought it was too good to be true when I heard everyone who worked was getting one,” he said.

Hay also recalled the 2001 stimulus package, which is similar to this year’s, as the reason for his caution. Unaware of the specific guidelines required in 2001, Hay was prepared to receive a check, but he later found out he did not qualify.

Though the stimulus plan was passed by Congress to boost the economy, Mohabbat said any transitory rebate plan will be less successful than a permanent stimulus plan.

“It is a nice thing that the administration has done to boost economic activity,” Mohabbat said. “But it is going to have an extremely small positive effect.”

Mohabbat does not yet think the economy is in recession, but he said it is on the verge. Matekaitis, too, said the economy is struggling.

“You’d have to be living under a rock to not have noticed,” Matekaitis said.

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