Mount Vernon's 'Level Up' program offers qualified residents $500 a month

THOUSANDS of Americans can now apply for a 12-month pilot program with a guaranteed income that will pay $6,000 per month.

200 residents of Mount Vernon, New York, will receive $500 monthly payments for a year thanks to a collaboration with Mayors for a Guaranteed Income.

Select Mount Vernon residents will receive cash as part of the Level Up pilot program, which will also study the effects of the additional income.

Households must make at least $15,000 a year to qualify.

Regardless of household size, families must earn less than 80% of the county's median income to be eligible. Income caps vary based on household size.

To apply, eligible residents must do so online by August 5 at 11:59 p.m. The city will also have physical locations where residents can submit applications.

200 qualified candidates will be chosen at random to take part in the universal basic income pilot program after the window closes.

A bank account is not required to apply because participants will be paid using pre-loaded debit cards.