In recent weeks, rumors have circulated online about the US government possibly issuing $697 monthly direct deposit checks starting in October 2024.
These speculations have caused confusion among the population, raising doubts about whether this new stimulus is real or simply a fiction.
The origin 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. Therefore, the idea that all US citizens will receive $697 per month appears, so far, to be unfounded.
What programs does SSA administer?
Despite the lack of a monthly stimulus for all Americans, the SSA does administer other financial support programs aimed at helping the most vulnerable people.
These programs include Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI), both designed to provide assistance to people with disabilities, people over the age of 65, and low-income families.
The goal of these programs is to offer financial support to those facing significant financial difficulties, especially those arising from the COVID-19 pandemic and the impact of inflation.
However, these benefits are subject to specific 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 cannot own more than $2,000 in assets, while couples cannot exceed $3,000 in total assets.
Most beneficiaries are people over 65 years of age, although applications are also accepted from younger 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 people.
Payment dates in October 2024
As for payments scheduled for October 2024, SSA beneficiaries will receive their deposits 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 the 11th and 20th will receive their payment on October 16, and those born between the 21st and 31st will receive it on October 23rd.
On the other hand, payments for Supplemental Security Income (SSI) and Veterans Affairs (VA) benefits are usually issued on the first day of the month, and the payment for October is scheduled for October 31.
Although rumors suggest a $697 monthly check for all Americans, there has been no official announcement from the SSA regarding a stimulus program of this magnitude.
It is important that people review official sources and verify any information before spreading potential fake news.
For those who are already beneficiaries of SSI or SSDI, the monthly payment will continue as scheduled and based on the individual circumstances of each applicant.
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