FAMILY MATTERS : New Guaranteed Income Program Offers $500 Monthly Checks to Families in Illinois
According To The Sun, A newly launched guaranteed income program is providing families with $500 monthly payments for a full year, with no restrictions on how the money is spent. Unlike traditional social programs that dictate specific uses for the funds, Project 8092 offers participants complete freedom in utilizing the direct payments.
Location and Scope
Residents of Evanston, Illinois, a community located 30 minutes outside of Chicago, are eligible to participate in this initiative. The program is in its second round and will benefit 150 households, offering them $500 monthly for 12 months. Payments will be distributed via prepaid debit cards.
An important detail is that recipients of other public assistance will most likely continue receiving their benefits if they are approved for Project 8092.
Eligibility Criteria
The program is aimed at low-income families with children, focusing specifically on those living in Census Tract 8092, a small area disproportionately affected by economic disadvantage. To qualify, residents must live within this half-square-mile tract, home to around 5,000 people.
Project 8092 targets families with children in third grade or younger, making this initiative evidence-based and data-driven to address child poverty. Research shows that investing in early childhood leads to significant long-term benefits. Eligible households must have incomes at or below 184% of the federal poverty line, which ranges from $37,814 for a family of two to $97,532 for a family of eight.
The program will begin distributing checks this summer.
Bank of America Agrees to Pay $21 Million Settlement in Hidden Fee Dispute
On a broader level, Bank of America has agreed to pay $21 million to customers as part of a settlement following a class action lawsuit. The plaintiffs accused the bank of charging hidden $15 fees on incoming wire transfers, which they were unaware of.
Though the bank denied any wrongdoing, they settled to resolve the case. Account holders who incurred these fees between March 8, 2019, and August 31, 2023, are eligible for compensation. No claim form or verification is needed, as payments will be sent out automatically.
In a similar case, a $14.95 million settlement over tax filing fees is also offering Americans one-time payments. Meanwhile, another guaranteed income program is offering $750 monthly checks to its participants, demonstrating the growing trend of financial assistance programs across the nation.
