SOME Americans could qualify for checks worth up serious money for an entire year.
The direct payment opportunity comes as part of a special initiative with financial wellness for students in mind.
GettyChecks worth $1,000 are going out to hundreds of Americans (stock image)[/caption] GettyThe program benefits college students in a popular state (stock image)[/caption]In Los Angeles, California, a guaranteed income program known as BOOST (Building Outstanding Opportunities for Students to Thrive) is in full swing.
Created by the Foundation for the Los Angeles Community Colleges, it’s “designed to bridge the gap between financial aid, wages, and the rising cost of living for students in the Los Angeles Community College District,” per a page dedicated to BOOST.
It’s the largest guaranteed income program for community college students in the nation, with more than $4 million in private funding directly from several foundations.
They include The Eli and Edythe Broad Foundation, the Young Adults Forward Fund, the ECMC Foundation, and the Weingart Foundation.
Not to mention, BOOST is the first to have a Randomized Control Trial (RCT) in partnership with the University of Pennsylvania, which will follow the select students and record information to help improve it for what would potentially be continued support.
At least 251 students can get $1,000 for 12 months through “unconditional cash payments.”
They would’ve already applied and been accepted near the end of 2024.
MONEY MOVES
To enroll, eligible candidates would’ve gotten an email titled “Welcome to BOOST.”
Detailed in the message would’ve been an Enrollment Form in a link to secure a spot in the program.
Those who filled it out immediately would’ve received a debit card with the first $1,000 distribution on it quicker than others.
Again, those payments continue for a total of $12,000 for a year-long period.
They are unrestricted and can be used at the student’s discretion.
The money is also roll-over if unused.
The debit card is mailed out two to three weeks after the form’s completion.
How does Guaranteed Income work?
Guaranteed Income and Universal Basic Income programs have taken off in popularity recently.
After the Biden administration’s American Rescue Plan of 2021 sent stimulus money to local governments, dozens began testing guaranteed income (GI) systems.
The specifics vary, but GI typically involves payouts to people with low incomes. Unlike traditional welfare, there are no job requirements, drug tests, or other strings attached.
Some have pushed for a Universal Basic Income (UBI), which would go to everyone regardless of how much money they make at work. Alaska has used a similar system since the 1970s.
Proponents say this alleviates poverty while incentivizing work, unlike classic welfare, which cuts benefits from people who begin earning “too much” money to qualify.
Opponents argue such a system is too expensive to function on a large scale and suggest Americans should avoid becoming reliant on government money.
With some cities heralding the success of GI programs, some Republican-led states have moved to ban them. States like Texas and Iowa, for example, have undermined major spending plans by pushing against GI.
Instructions are included to activate it.
CASH INCOMING
First payments went out as early as November 25 or December 20, 2024, with the eighth or seventh payment arriving this month.
It’s always on the 15th starting in January, so in just days, the 251 students will get another $1,000 distribution on June 15, 2025.
Additionally, students who change their enrollment status at one of the LACCD colleges in the middle of the benefits period will still get the payments until the year is up.
The only requirement is that the students continue to complete surveys with the Center for Guaranteed Income Research at the University of Pennsylvania.
That way, BOOST can continue on helping students and be improved along the way.
Several other guaranteed income programs are sending out hundreds to thousands of dollars to Americans this year.
Checks worth $1,500 are being handed out as part of a “Breathe” program in one state with no strings attached.
Some families are also getting $725 monthly for a year as part of a recently “renewed” initiative.
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