A multi-million dollar guaranteed income program is launching on the West Coast, which will offer unlimited monthly payments to participants.
The Foundation for the Los Angeles Community Colleges say it introduces the largest ever guaranteed income pilot program for students.
The program targets community college students in health-related fields.
“In line with the mission to advance equity and opportunity in education, the Building Outstanding Opportunities for Students to Thrive (BOOST) program, a Guaranteed Basic Income (GBI) initiative, will provide $3 million in unlimited monthly payments to LACCD students pursuing a career in healthcare. ”
A total of 250 students will be chosen to participate in the guaranteed income program, with each participant receiving $1,000 per month for a year.
“The program aims to bridge the widening gap between financial aid, wages and students’ living costs and will be available at four LACCD colleges: East LA College, LA City College, LA Trade-Technical College and LA Southwest College.”
The Foundation for the Los Angeles Community Colleges says the guaranteed income program funds come from donations.
“The program is made possible by generous funding from the Eli and Edythe Broad Foundation ($3,175,000) and the Young Adults Forward Fund, an initiative of the California Community Foundation ($867,500).”
Some selected participants have already started receiving the funds.
“The timing of BOOST’s launch could not be more appropriate, as the first round of funding will reach students just before Thanksgiving. In this season of giving, BOOST provides more than just financial assistance: it provides a lifeline for students who often face difficult choices between meeting basic needs and focusing on their education.”
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