Since food prices are exorbitant despite having cooler inflation, SNAP recipients will definitely be glad to get the new COLA. Last year, USDA’s Food and Nutrition Service announced the new allotments on August 3, 2023.
So, to know the Fiscal Year 2025 Cost-of-Living Adjustments, Food Stamp recipients may have to wait till next month to get that information. Bear in mind that COLA may not always mean an increase. For example, SNAP recipients in Hawaii got a reduction last year.
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SNAP benefits’ date for the new COLA
The last day when Food Stamp beneficiaries can receive the current maximum amounts will be September 30. Therefore, the new COLA will come into effect on October 1, 2024.
As you may have guessed, the new COLA will be sent much sooner than the one for Social Security and SSI benefits. These recipients will have to wait until December 31 (SSI) and January (retirement and SSDI).
The most well-known COLA projection has been made by the Senior Citizens League and for Social Security benefits. Although the COLA for SNAP may be similar. The SCL claims that it could be a boost of about 2.63% for Social Security.
Possible SNAP amounts after COLA
If there were a COLA boost of about 2.63%, the maximum amount for a family of 4 could be about $998, up from 973. Remember that the bigger your family is, the higher the maximum benefit payment will be.
This year’s maximum Food Stamp amount for a single person is $291, with a 2.63% boost it could become $298. This boost could be lower than in 2024 because it may only increase by $7, and not $10 like for the 2024 COLA boost.
A family of 8 can receive $1,751 in 2024. If there were a 2.63% COLA, Food Stamp recipients could get $1,797 if there are 8 members living together in the same household. Do not forget to tell someone you know in financial difficulties to file for SNAP benefits.