If you’ve been seeing headlines about “$1702 stimulus checks” and wondering if you’re missing out on free money, let’s clear the air right away. This isn’t a federal stimulus payment that everyone across America can claim. Instead, it’s something much more interesting – and exclusive to one state.
Alaska residents are receiving $1702 payments through the state’s Permanent Fund Dividend program, a unique benefit that’s been putting money directly into Alaskans’ pockets for over four decades. If you live in Alaska or are thinking about it, this guide will help you understand everything about these payments, from who gets them to when they arrive in your bank account.
For everyone else wondering why Alaska gets this special treatment, stick around – you’ll learn about one of the most fascinating government programs in America and why it exists nowhere else.
What Exactly Is This $1702 Payment?
The $1702 payment isn’t technically a stimulus check, though many people call it that because it provides direct financial relief to families. It’s officially known as the Alaska Permanent Fund Dividend, or PFD for short.
Here’s what makes this payment special: it comes from Alaska’s oil wealth. Every year, the state takes a portion of the money it earns from oil companies drilling on state land and distributes it directly to residents. Think of it as Alaska sharing its natural resource wealth with the people who call the state home.
The $1702 amount for 2025 is actually made up of two parts. The main dividend is $1,403.83, calculated based on how well the state’s investment fund performed. On top of that, there’s an additional $298.17 energy relief bonus that the state legislature approved to help residents deal with rising energy costs.
This isn’t monopoly money or some too-good-to-be-true scheme. It’s real cash that gets deposited directly into residents’ bank accounts or mailed as paper checks, and it’s been happening reliably since 1982.
The Story Behind Alaska’s Unique Program
Understanding why Alaska has this program helps explain why no other state offers anything similar. Back in the 1970s, when oil was discovered in Alaska’s Prudhoe Bay, state leaders faced a decision: what should they do with all this new wealth?
Rather than just spending the money on government programs or letting it disappear into the general budget, Alaska’s leaders made a remarkable choice. They created the Alaska Permanent Fund in 1976, essentially a giant savings account funded by oil revenues.
The idea was brilliant in its simplicity: set aside a portion of today’s oil money to benefit Alaskans forever, even after the oil runs out. The fund invests this money in stocks, bonds, real estate, and other assets around the world. Then, each year, some of the investment earnings get distributed back to residents as dividends.
By 1982, the fund had grown enough to start making its first dividend payments. That first year, each eligible Alaskan received $1,000 – worth about $3,000 in today’s money.
Who Actually Gets the $1702 Payment?
The eligibility requirements for Alaska’s dividend are straightforward but strict. You can’t just visit Alaska for a vacation and expect a check – the state takes residency requirements seriously.
To receive the $1702 payment, you must have been a full-time Alaska resident for the entire 2024 calendar year. This means Alaska was your permanent home from January 1st through December 31st, 2024. If you moved to Alaska in March or left for a few months, you wouldn’t qualify for this year’s dividend.
The state also requires that you intend to remain in Alaska indefinitely. You can’t treat Alaska as a temporary stop while planning to move somewhere else. This prevents people from moving to Alaska just long enough to qualify for the dividend, then leaving immediately after receiving it.
You must be physically present in Alaska for at least 72 hours during either 2023 or 2024. This prevents people from claiming Alaska residency while actually living elsewhere full-time.
If you were outside Alaska for more than 180 days during 2024, you might not qualify unless you have an approved reason. The state does make exceptions for things like military deployment, medical treatment, or caring for a family member, but you need to document these situations properly.
Finally, you can’t have serious criminal convictions or be incarcerated for felony crimes. The state checks criminal backgrounds as part of the application process.
When Your Money Arrives: The 2025 Payment Schedule
Alaska doesn’t send out all dividend payments at once. Instead, they process payments in batches throughout the summer and fall, based on when applications were approved.
For August 2025, the key date is August 21st. If your application status shows “Eligible – Unpaid” by August 13th, you should receive your $1702 payment on August 21st.
The state has been making payments since June 2025, with additional payment dates in July. If you haven’t received your payment yet but believe you’re eligible, check your status on the Alaska PFD website to see when your payment is scheduled.
Most people receive their payments through direct deposit, which is the fastest and most reliable method. If you didn’t set up direct deposit, you’ll receive a paper check through the mail, which takes a few extra days to arrive and process.
How to Apply and What You Need to Know
If you’re eligible for future PFD payments, the application process is free and straightforward, but you must apply during the official window. For the 2025 dividend, applications had to be submitted between January 1st and March 31st, 2025.
You apply online at pfd.alaska.gov using the state’s myAlaska account system. The application asks for basic personal information, proof of your residency, and banking details if you want direct deposit.
For children and dependents, parents or legal guardians must apply on their behalf. Yes, kids can receive the dividend too, as long as they meet the residency requirements. Many Alaska families use their children’s dividends for education savings or other long-term goals.
The state thoroughly reviews every application. They check residency records, verify criminal background information, and may request additional documentation if anything seems unclear. This review process is why payments don’t all go out at once – applications get approved and paid in batches as they complete the review.
Tax Implications You Should Understand
Here’s something important that many people don’t realize: the $1702 dividend payment is taxable income at the federal level. The IRS considers it income, and you’ll receive a Form 1099-MISC that you must include when filing your federal tax return.
However, Alaska itself doesn’t tax the dividend because the state has no income tax. So while you’ll owe federal taxes on the payment, you won’t owe any state taxes to Alaska.
The tax impact varies depending on your total income and tax bracket. For some people, especially those with lower incomes, the additional $1702 might not create a significant tax burden. For others, it could push them into a higher tax bracket or affect their eligibility for certain federal benefits.
It’s worth planning for this tax obligation rather than being surprised next April. Consider setting aside a portion of your dividend payment to cover the federal taxes you’ll owe on it.
What This Money Means for Alaska Families
For many Alaska families, the annual dividend payment isn’t just nice extra money – it’s a crucial part of their household budget. Alaska has a high cost of living, especially in rural areas where groceries, fuel, and other necessities can be extremely expensive.
Many families time their major purchases around dividend payments. Some use the money for back-to-school shopping, winter preparation, or holiday expenses. Others put it toward medical bills, home repairs, or paying down debt.
The energy relief portion of the payment is particularly important given Alaska’s harsh winters and high heating costs. That extra $298.17 might seem small, but it can help offset the cost of heating oil or electricity during the coldest months.
Avoiding Scams and Misinformation
Unfortunately, Alaska’s legitimate dividend program has created opportunities for scammers to target people in other states. You might see social media posts or fake news articles claiming that everyone in America can get $1702 stimulus payments. These are false.
Only Alaska has this type of program. No other state offers anything similar, and there are no federal stimulus payments currently authorized by Congress.
Be especially wary of posts that ask you to call a phone number, provide your Social Security number, or click on suspicious links to “claim” your payment. The real Alaska PFD program only accepts applications through the official state website during specific application periods.
If you don’t live in Alaska, you’re not eligible for this payment, period. Don’t fall for scams that promise otherwise.
The Economic Impact of Alaska’s Program
Alaska’s dividend program does more than just help individual families – it has a significant impact on the state’s entire economy. When hundreds of thousands of Alaskans receive $1702 each, most of that money gets spent locally on groceries, gas, retail purchases, and services.
Small businesses often see a boost in sales during dividend season. Restaurants get busier, stores see increased foot traffic, and service providers often get more customers who can finally afford repairs or improvements they’ve been putting off.
The program also helps reduce economic inequality by providing the same amount to everyone, regardless of income level. A single mother working minimum wage gets the same $1702 as a wealthy business owner.
Looking to the Future
The amount of Alaska’s dividend varies each year based on how well the Permanent Fund’s investments perform and decisions made by the state legislature. Some years have been higher – in 2022, for example, eligible Alaskans received over $3,200 each.
The fund continues to grow over time, now worth more than $80 billion. However, the actual dividend amount depends on complex calculations involving investment returns, inflation adjustments, and legislative appropriations.
For 2026 and beyond, dividend amounts will depend on global investment markets, oil prices, and political decisions made in Alaska’s state capital. The program enjoys broad popular support among Alaskans, making it unlikely to disappear, but the amounts can fluctuate significantly from year to year.
Why This Matters Beyond Alaska
Even if you don’t live in Alaska, the state’s dividend program offers interesting lessons about sharing natural resource wealth and providing direct cash assistance to citizens.
Some economists and policy experts have studied Alaska’s program as a model for universal basic income or resource dividend programs that other places might adopt. The program demonstrates that direct cash payments can be administered efficiently and can provide meaningful economic support without creating major work disincentives.
Alaska’s success with this program for over 40 years shows that innovative approaches to sharing economic prosperity are possible when there’s political will and natural resources to support them.