A multi-million dollar guaranteed income program that will provide unrestricted monthly payments to participants is launching on the West Coast.
The Foundation for the Los Angeles Community Colleges says it’s rolling out the largest-ever guaranteed income pilot program for college students.
The program is targeting community college students in health-related fields.
“Aligning 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 unrestricted monthly payments to LACCD students pursuing health careers.”
A total of 250 students will be picked to participate in the guaranteed income program with each participant set to receive $1,000 per month for one year.
“The program aims to bridge the widening gap between financial aid, wages, and students’ cost of living 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’s funds are sourced from donations.
“The program is made possible through 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 couldn’t be more fitting, as the first round of funds will reach students just before Thanksgiving. In this season of giving, BOOST offers more than financial relief—it provides a lifeline for students who often face tough choices between meeting basic needs and focusing on their education.”
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