TIME is almost up for Americans to take action and grab their share of a $500 monthly payment.
This applies to a new phase of a guaranteed income program in Cambridge, Massachusetts.
1
Known as the Rise Up Cambridge, it's made possible thanks to the $22million allocated under the American Rescue Plan Act.
An estimated 2,000 Cambridge residents can apply for $500 in monthly payments for a year and a half.
However, they must take action in days.
Below we explain the qualifications and how you can apply.
READ MORE ON PAYMENTS
ELIGIBILITY AND HOW TO APPLY BEFORE DEADLINE
In addition to residing in Cambridge, you must have at least one child that's 21 years old or younger.
As far as income goes, it must be 250 percent below the federal poverty level, which is as follows based on family size.
- Family of two: $49,300
- Family of three: $62,150
- Family of four: $75,000
- Family of five: $87,850
- Family of six: $100,700
- Family of seven: $113,550
- Family of eight: $126,400
Also, keep in mind those applying must be at least 18 years old.
Most read in Money
To put your name for consideration, you need to fill out an application online, which can be done through July 31.
Also, eligible residents can check out the city's "application assistance" sites for in-person help.
After applying, you can check its status through a link sent via email or text.
If approved for the payments, you will get a confirmation email or text.
"Participants will be approved on a rolling basis," program officials said in its frequently asked questions section.
Those selected will get their $500 payments on the first of each month.
However, if the date lands on the weekend, then they'll get it the Friday before instead.
MORE GUARANTEED INCOME UPDATES
But there are far more cities that are offering guaranteed income.
For one, Sacramento, California, started sending out its first set of $500 in monthly payments under its expanded program to support another 80 residents.
To be considered, you must have filled out an application by the April 15 deadline.
The income restrictions were $28,204 for single adults and $64,272 for households with two adults and two children.
Another initiative is expanding in Washington, DC.
A soft launch of a new phase is supporting five mothers with $500 in monthly payments, according to Street Sense Media.
And later this year, additional cohorts are set to participate.
In total, Mother’s Outreach Network, which is running the program, hopes it will expand to 50 participants.
Read More on The US Sun
For more related stories, tax rebates worth up to $2,500 have begun hitting accounts.
And here are the full list of states sending out payments worth up to $1,044 in July.
