In recent weeks, rumors have circulated online about the US government possibly issuing deposit checks of just $697 per month starting in October 2024.
These speculations have caused confusion among the public, raising doubts as to whether this new stimulus is real or just fiction.
The source of these rumors points to the Social Security Administration (SSA) as the entity responsible for granting these monthly payments.
However, there has been no official announcement from the SSA confirming the implementation of such a program. So, it seems that, so far, the idea that US citizens will receive $697 per month is unfounded.
What programs does SSA administer?
Despite the lack of a monthly stimulus for all Americans, the SSA administers other financial assistance programs aimed at helping the most vulnerable.
These programs include Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI), both designed to support people with disabilities, people over 65, and low income families.
The aim of these programs is to offer financial assistance to those who are facing serious financial problems, especially those arising from the COVID-19 pandemic and the impact of inflation.
However, these benefits are subject to certain requirements and are not accessible to the entire population.
Eligibility criteria for SSI and SSDI
To access SSI or SSDI payments, applicants must meet certain strict requirements.
You must be a citizen or permanent resident of the United States, and there are asset limits: Individuals can have no more than $2,000 in assets, and couples can have no more than $3,000 the total asset.
The majority of beneficiaries are people over 65 years of age, although applications are also accepted from young people with disabilities or permanent blindness.
These criteria ensure that payments reach those who need them most, providing a safety net for the most vulnerable.
Dividend payment date in October 2024
For payments scheduled for October 2024, SSA beneficiaries will receive their contributions based on their date of birth.
For those born between the 1st and 10th of the month, payment will be made on October 9. Those born between 11 and 20 will receive the payment on October 16, while those born between 21 and 31 will receive it on October 23.
On the other hand, payments for Supplemental Security Income (SSI) and Veterans Affairs (VA) benefits are usually issued on the first of the month, and the payment is for October scheduled for October 31.
Although rumors suggest a $697 monthly check for all Americans, there has been no official announcement from the SSA regarding an incentive program of this magnitude.
It is important that people review official sources and verify any information before spreading fake news.
For those already receiving the benefit of SSI or SSDI, the monthly payment will continue as scheduled and based on the individual circumstances of each applicant.
