Summarize this content to 2000 words in 6 paragraphs A group of Ohio mothers will be getting $500 direct payments monthly as a new guaranteed income program starts in the state.Ohio Mothers Trust is sending its first payments this week to the 32 Columbus mothers who have been approved for the program. The Ohio Mothers Trust payments are the first unconditional guaranteed income program in Columbus and reflect a growing movement toward these types of pilots across the country.”Ohio Mothers Trust aims to show that providing unconditional cash support to mothers can significantly boost the financial stability and overall well-being of families,” Danielle Sydnor, CEO of RISE Together, said in a statement.The direct payments were established by nonprofits RISE Together Innovation Institute, Motherful and UpTogether.
Stock photo of a girl looking into a refrigerator. Ohio Mothers Trust is sending its first payments this week to the 32 Columbus mothers who have been approved for a new guaranteed income program.
Stock photo of a girl looking into a refrigerator. Ohio Mothers Trust is sending its first payments this week to the 32 Columbus mothers who have been approved for a new guaranteed income program.
Steve Prezant
In Franklin County, Ohio, childhood poverty was estimated to cost $5.2 billion in lost economic activity in 2021, and the fund aims to provide families the resources they need to invest in their futures.”This new initiative through a trust in Columbus is the latest in a string of efforts from across the country to support some of the most in-need individuals through a guaranteed income program,” Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek.”Similar programs in other cities and states have seen great success, mainly because they provide an additional financial safety net to help lift these families out of poverty. The hope is this initiative can replicate the success others have enjoyed.”Who Qualifies?To be eligible for the program, you had to be a single mother living in Columbus with an income at or below 80 percent of the area median.The direct payment program will also survey the recipients regularly in order to evaluate how it impacts the families involved.”Being a recipient of the Ohio Mothers Trust guaranteed income is such a blessing,” one program participant said in a statement. “I am beyond blessed to have been selected to be part of this program. It makes me so happy to think that my bills will be paid on time and I can afford to get my son into more activities.”Another said: “As a single mother, this support means the world to me and my child. The monthly funding not only alleviates the stress of managing bills but also provides a pathway for me to tackle my debts and build a more stable future. Thank you for seeing us single moms, for hearing us, and for creating a community that reminds us that we are worthy and not alone.”Altogether, the initiative cost $211,200 to help the 32 single moms’ families for a year.While the Ohio Mothers Trust will no doubt provide immediate economic relief to families, there are concerns about what happens after the program ends.”While the program is expected to provide much-needed short-term relief, it raises concerns about its long-term effectiveness,” Kevin Thompson, a finance expert and the founder and CEO of 9i Capital Group, told Newsweek.”Without a replacement program or broader systemic reforms, recipients may find themselves in the same financial position once the 12-month payments end. This approach may serve as a temporary solution rather than addressing the deeper issues that create financial insecurity for single mothers.”
