Iowa families who need some extra cash have a little less than a week to apply for a guaranteed income program that will provide them with $500 every month.

The UpLift program will select 110 applicants and provide them with these monthly payments over the course of two years. Researchers will then track how participants use these payments each month. Recipients have total freedom with how they spend the money, according to research firm the Harkin Institute, which is helping with the program.

IOWA WILL INVEST ANOTHER $2 MILLION IN MANUFACTURING 4.0 TECHNOLOGY

“Poverty is a chronic obstacle,” said Ashley Ezzio, lead programmer of UpLift. “Month upon month of limited income in the face of steady to rising financial obligations impacts a family’s ability to simply survive.”

Outside of the 110 recipients who will receive these monthly payments, a random control study will compare outcomes from these recipients to 140 people who receive no monthly payments.

Eligibility for this program requires applicants to live in Dallas, Polk, or Warren counties, have at least one dependent no older than 25, and have a household income of 60% of the area median income or lower.

The area median income varies depending on how many dependents an applicant has. An applicant with two dependents cannot make more than $3,940 per month, and an applicant with three dependents cannot make more than $4,433.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

“What other projects have shown is that even the smallest boost in regular income can make a vast difference for a family,” said Michael Berger, another programmer of the project. “Participants aren’t looking for handouts. They just need paths to greater financial stability and, hopefully, prosperity.”

Applications for this program opened on Feb. 17, and they will be accepted through Feb. 27.