Alaska Offers $1,702 Payment to Residents, Aiming to Attract More People

• Author: Margaret Hills
• Posted: 2025-06-24

In an effort to encourage people to move to and settle in Alaska, the state has announced a $1,702 stimulus payment for eligible residents.

This annual payout, part of the Permanent Fund Dividend (PFD) program, is designed not only to support current residents financially but also to make Alaska a more appealing place to live despite its challenging weather conditions.

The payment comes from the Alaska Permanent Fund, which was created to share the state's oil profits with its people. For 2024, eligible residents will receive $1,702, combining a base amount of $1,403.83 and an extra $298.17.

This financial boost aims to improve living conditions for Alaskans while encouraging more individuals and families to consider making Alaska their permanent home.
 

Who Qualifies for the $1,702 Payment?

To qualify for the payout, individuals must have lived in Alaska for the full year of 2024 and intend to remain in the state long-term.

Applicants should not have spent more than 180 days outside Alaska, applied for residency elsewhere, or been convicted of certain crimes. The program's goal is to reward long-term commitment to living in the unique and resource-rich state.
 

How Can the Stimulus Payment Be Used?

The $1,702 stimulus payment can serve as a significant financial resource for residents. It can be utilized for various significant expenses including:
 

• Down Payment on a New Home: The extra funds can be a great help for those looking to purchase a home in Alaska, making home ownership more accessible.
• Payment of Utilities: The harsh climate of Alaska can result in high utility bills, particularly during the winter months. The stimulus can help cover these costs, easing the burden on families.
• Extra Fund for Rent: The payment can also subsidize housing costs, providing relief for renters and making it easier to manage monthly budgets.

 

When Will Payments Be Made?

Payments for the 2024 dividend will be disbursed in two rounds. For dividend applications in "Eligible - Unpaid" status by July 9, 2025, payouts will occur on July 17.

A second round of payments will be made on August 21, 2025, for applications still in "Eligible - Unpaid" status as of August 13, 2025.

This initiative serves as both a financial safety net for current residents and a strategy to attract newcomers, highlighting Alaska’s commitment to fostering a strong and thriving community while utilizing its state resources to benefit its people.

If you’re considering a move to Alaska, this program could provide valuable financial support as you settle into life in the Last Frontier.

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