Relating to, determined by, or dependent on a person's or household's income. It often refers to programs, services, or eligibility criteria where financial standing is a primary factor in determining access, affordability, or the amount of assistance received. This approach aims to provide equitable access to resources by considering the ability to pay, ensuring that those with lower incomes are not excluded or unduly burdened. The income level serves as a benchmark for calculating payments, fees, or benefits, potentially offering sliding scales, reduced rates, or subsidies to those with lower financial means.
Income-based meaning with examples
- The university offered an income-based tuition program, significantly lowering costs for students from low-income families. This enabled a wider range of students to access higher education, regardless of their parents' financial situations, offering a level playing field. The program’s eligibility was determined annually by reviewing tax returns.
- Several income-based housing options are available within the city, aimed at providing affordable living for low to moderate-income residents. These apartments and townhouses use a rent structure proportionate to the resident's income to prevent housing insecurity, allowing people to budget. Waiting lists exist.
- The government implemented an income-based tax credit program, assisting families with childcare expenses. This allows low-income families to afford childcare and encourage parents to participate in the workforce. Tax credits varied based on gross household income and number of dependents.
- Eligibility for the food assistance program is strictly income-based, ensuring that support goes to families facing food insecurity. Those above the specified income level are not eligible. Documentation of income levels like pay stubs is required to determine assistance eligibility. This is managed in a streamlined application.
- A non-profit organization provides income-based legal aid services, ensuring access to justice for individuals who cannot afford private attorneys. Their fees are determined by each client's income level, meaning some may receive free legal assistance. This promotes equality in the legal system.