$1,702 Stimulus Payment: When will you get the Payment in May 2025?

$1702 Stimulus Payment: Every year, Alaska shares its oil and gas profits with its residents through the Permanent Fund Dividend (PFD). For 2025, the payout to eligible individuals will be $1,702, which is a 30% increase from last year.

The total amount consists of two parts: $1,403.83 for the main dividend and an additional $298.17 to help with high energy costs, which is especially important given the state’s expensive living conditions.

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The PFD, created in 1976, ensures that a portion of Alaska’s oil wealth benefits its residents. Managed by the Alaska Permanent Fund Corporation, it distributes yearly payments to eligible residents. This cash benefit helps individuals and boosts the local economy by encouraging spending, which supports businesses and acts as an economic stimulus, especially in challenging times.

$1702 Stimulus Payment: Eligibility

To qualify for the $1,702 PFD in 2025, residents must meet several requirements.

• They need to have lived in Alaska for the entire previous year and show an intention to stay in the state permanently.
• Applicants must have also lived in Alaska for at least 12 consecutive months without applying for residency in another state during that time.
• They should have spent at least 72 hours in Alaska within the last two years.
• Legal factors also play a role in eligibility. Those who have been convicted of serious crimes or have more than two misdemeanor convictions since January 1, 1997, will not qualify for the dividend.

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Applications for the 2025 PFD opened on January 1 and closed on March 31, with the deadline for submission being April 1. Those who met the requirements during this period will receive their dividends later in the year.

The Alaska Permanent Fund Dividend website, pfd.alaska.gov, provided the platform for residents to apply either online or by mail. If any applications were marked “Eligible-Not Paid” by May 7, 2025, these will be processed and sent out on May 15, 2025.