Means Test
A means test is a process used to determine a person’s eligibility for certain government benefits or services. It is based on the individual’s income and assets. The means test is used to determine whether an individual is eligible for certain government programs, such as Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI). The means test is also used to determine eligibility for certain types of loans, such as student loans.
History of the Means Test
The means test was first introduced in the United States in the 1930s as part of the Social Security Act. The means test was designed to ensure that only those individuals who were truly in need of assistance would receive it. The means test was used to determine eligibility for various government programs, such as unemployment insurance, Social Security, and welfare. The means test was also used to determine eligibility for certain types of loans, such as student loans.
In the 1980s, the means test was revised to include a more comprehensive assessment of an individual’s financial situation. This revision was designed to ensure that individuals who were truly in need of assistance would receive it, while those who were not in need would not. The means test is still used today to determine eligibility for various government programs and loans.
Table of Comparisons
| Program | Income Limit | Asset Limit |
|---|---|---|
| Social Security Disability Insurance (SSDI) | $1,170/month | $2,000 |
| Supplemental Security Income (SSI) | $771/month | $2,000 |
| Student Loans | Varies | Varies |
Summary
The means test is a process used to determine a person’s eligibility for certain government benefits or services. It is based on the individual’s income and assets. The means test was first introduced in the United States in the 1930s and is still used today to determine eligibility for various government programs and loans. For more information about the means test, visit the Social Security Administration website or the Department of Education website.
See Also
- Income Test
- Asset Test
- Social Security Disability Insurance (SSDI)
- Supplemental Security Income (SSI)
- Student Loans
- Unemployment Insurance
- Social Security
- Welfare
- Tax Credits
- Financial Aid
