NEW ORLEANS — The Mayor's Office of Youth and Families announced on May 4 the launch of the Guaranteed Income Program through a $500,000 grant from Mayors for a Guaranteed Income.
The City of New Orleans is the first recipient of the MGI grant, which seeks to prioritize incomes for young people.
The program is set to serve 125 young people between the ages of 16-24, who are detached from work and school. They will receive a monthly stipend of $350 for 10 months.
The program is said to support Mayor Cantrell's vision of supporting at risk youth. The City says that these guaranteed payments will increase the financial stability of those selected into the program, connect them with work and school programs, and ultimately decrease stress and other factors of economic insecurity.
The Office of Youth and Families partnered with nine community-based organizations who referred participants to the program.
22-year-old Laurin Lombard, was chosen for the program, and says she's grateful for the opportunity. "I'm so glad to be participating in the New Orleans Guaranteed Income Program because is gives me an opportunity to take care of my family," she said.
Lombard is a resident of New Orleans East, and has a 10-month old child. "In the future, I plan to save some of the money so I can go back to school to get my degree in cosmetology and business and pay for childcare for my 10-month-old baby," she stated.
In other cities across the country with guaranteed income payments, studies have shown that they indeed lower stress connected with financial instability, and improves participants overall outlook on life and their economic prospects.
In order to ensure that the program is successful in New Orleans, The City is partnering with the Center of Guaranteed Income Research though The University of Pennsylvania, and Tulane University, for evaluation of the programs efficacy.
