The US based non-profit will launch a pilot program for a guaranteed income that gives people thousands of dollars they can use however they like.
Georgia Resilience & Opportunity Fund (GRO) says that the Freedom Futures pilot program guarantees a $500 monthly income for 48 months or $24,000 over the course of the period to participants selected in the state.
The program is open to applicants aged 18-25. They must also be in school, either in high-school or at a partner institution. Income of the applicant’s family must not exceed double federal poverty levels.
The pilot program for guaranteed income will allow participants to earn $500 per month plus an additional investment of capital.
Participants will be required to complete financial education in order to receive investment capital. Starting in the third-year of Freedom Futures’ guaranteed income program, the investable amount will be distributed.
The deadline for submitting applications is the evening of August 27th. The applicant will need to submit various documents including proofs of income and identity. The successful applicants will receive notification within a few weeks after the deadline has passed.
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The ICD published the post Residents of one US state will receive $24,000 as part of a new guaranteed income program.
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