The Supplemental Nutrition Assistance Program (SNAP), which aids millions of Americans with food costs, will see payment dates varying by state from August 1 to 28. This scheduling helps users plan their spending and manage their food budgets more effectively.
Beginning October 1, 2024, SNAP benefits will increase due to the annual Cost of Living Adjustment (COLA). New benefit amounts will be announced soon, with adjustments based on household size and income deductions.
Upcoming SNAP Benefit Changes – Projected Increases Effective October 1, 2024
According to Okdiario’s report, the USDA has confirmed that SNAP benefits will see changes starting October 1, 2024, due to the annual COLA. The adjustments could increase the amount of aid individuals receive, depending on household size. For instance, a single person might see benefits rise to $298, while a family of four could receive up to $998 with the COLA increase.
Currently, SNAP benefits vary significantly based on household size. A single individual can receive up to $291, while a family of eight may get up to $1,751. With a projected COLA increase of approximately 2.63%, these amounts could be adjusted. The USDA is expected to release the updated benefit figures within the next two weeks.
How the New Cost of Living Adjustment Will Affect Your October SNAP Payments
SNAP calculates benefit amounts by subtracting certain household expenses from your income, including basic living costs, non-food earnings, child care, and medical expenses for elderly or disabled family members. Starting in October, the new benefit amounts will reflect these adjustments, providing better alignment with the support you need.
