Iowa families who need some extra cash can now apply for a guaranteed income program that will provide them with $500 monthly payments for two years.

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

SOCIAL SECURITY UPDATE: FIRST OF MARCH'S TWO SSI PAYMENTS WILL ARRIVE IN 12 DAYS

“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.”

Applications for this program began being accepted on Friday and will be accepted through Feb. 27.

To be eligible for this program, applicants must 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.”

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