Refers to a sum of money provided by a government or organization, often under a social security or welfare program. Commonly used in administrative and news contexts.
The government provided benefits to low-income households.
You need to apply for this allowance.
奨学金 refers specifically to financial aid for students, while 給付金 is a broader term for any money granted by the government or an organization without repayment.
Compound of 給付 (kyūfu, 'provision, grant') and 金 (kin, 'money'). The term is a modern administrative coinage.