Some California residents have just over a week to apply for cash injections of $500 per month.
Read more: Compare the Best High-Yield Savings Accounts to Grow Your Savings
Eligible individuals residing in Fresno County, central California, could receive $500 a month for 12 months under the Advancing Fresno County Guaranteed Income program. The initiative, spearheaded by Fresno Economic Opportunities Commission (EOC), will provide monthly cash payments for one year to 150 households residing in "vulnerable communities" facing heightened financial challenges, with no obligation for repayment.
Applications for the program will close on May 15, meaning anyone still wishing to apply has just over a week left. The program is tailored for young families or those on the cusp of starting a family who meet specific income criteria and live either in southwest Fresno City or Huron.
Guaranteed income programs target specific demographics affected by poverty and income disparities, disbursing regular cash payments over a set period. Unlike federal or state benefits such as the Supplemental Nutrition Assistance Program (SNAP), participants are free to spend the money however they like.
Read more: 7% Interest Rate Savings Accounts
Who Can Apply?
Eligibility is dependent on where the applicant lives and their household income. The program is only open to residents of Huron with a ZIP code of 93234, and to southwest Fresno city residents with a 93706 ZIP code.
Applicants must also meet the following criteria:
- aged 18 or over
- pregnant or have a child under five
- have an annual income that is 80 percent or less of their area's median income. For Huron residents that would be $35,103 or less, and $30,615 or less for those in the city of Fresno.
How Can I Apply?
Eligible Californians can apply online or in person. For online users, there is an application portal. For those wanting to apply in person, they can do so at two locations: Fresno EOC's Local Conservation Corps (Neighborhood Youth Center), located at 1805 E California Ave, and in Huron at the Senior Center, 16900 5th Street.
Read more: Best Place for Your Money: CD vs. High-Yield Savings Account
Meeting the criteria and filling out an application does not guarantee you will be selected, however. "We have already seen a strong demand for the program with thousands of applications coming in," a spokesperson for Fresno EOC told Newsweek. Participants will be selected via a lottery.
Payments will be made to successful families beginning in the summer for 12 consecutive months. Newsweek has contacted the Fresno EOC via email outside of normal working hours to see if a specific date has been set.
Researchers will then assess participants to see if the payments have helped in several areas, including improving financial stability and overall health. According to a press release issued by the Fresno EOC "researchers anticipate that recipients will witness heightened levels of health, happiness, financial security, and full-time employment."
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Aliss Higham is a Newsweek reporter based in Glasgow, Scotland. Her focus is reporting on issues across the U.S., including ... Read more
