This was a student receiving a monthly stipend from the government for their living expenses, which is normal in many European countries.
Wikipedia defines welfare as "a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter." That seems like a good definition to me, and this case definitely fits.
Edit: In fact, there is a conservative anti-welfare narrative that this post plays right into. If the author was waiting until midnight for the deposit to post so they could buy drugs, alcohol, or some other 'vice', this would certainly be picked up by a conservative politician or media outlet and used to argue against welfare.
