End of COVID Aid Programs Impacts Millions as Debts Mount and Benefits Disappear

Several COVID-19 pandemic aid programs have recently ended, impacting millions who relied on the benefits. Programs ending include stimulus checks, enhanced child tax credits, expanded unemployment aid, and student loan payment pauses.

An estimated 70,000 child care programs could close after federal pandemic grants expired, potentially causing 3.2 million children to lose their spots. This may force parents to quit jobs or cut hours.

Medicaid disenrollment has begun after coverage was expanded during the pandemic. Texas and Idaho have the highest rates so far, with 66% and 64% losing coverage respectively.

Able-bodied adults aged 18-49 without dependents now need to work 20 hours a week to receive food stamps, after work mandates returned in October. This could cause 500,000 to lose benefits.

Household debt like credit cards and mortgages grew during the pandemic, even as student loans were paused. Now borrowers may struggle to afford resumed student loan payments alongside other debts.