I require more income, so I'll have to find at least a part time job.

However, I saw that these bug bounty programs have popped up in the past few years. I have heard mixed views on them. Some don't pay you unless the bug is major according to them, and some pay you with T-shirts.

Are bug bounty programs viable as a part-time job or is it so unlikely that it is a waste of time ?

Bug bounty...as in software? Hmm, let's see, software still is in the "trade secret" sphere...so it's not really likely they'll send/mail the source to you...
What language? Let's be honest, if you want to debug software, you need access to a/the test space...
If you have some knowledge...perhaps teaching at the local community center or helpdesk work is more likely. Perhaps tele sales/prospecting. Can be done from home.
I had a side gig taking pictures of junior football teams once. Did bring in the extras...until digital came along, and the parents did a DIY on that, with a decent camera and a somewhat decent printer, anything goes
Good luck in the job hunt. I feel for you been there, done that, needed this too...
Thor

Yeah, I think that is more likely. I'm very good with computers and can program in bash and C quite well. I may decide to take a Linux IT certification exam, but most IT jobs require experience, which I do not have. They also seem to be full time jobs, and don't pay well enough for it.

The bug bounty programs seem to reward more accidental findings of major bugs, so the chances of me getting a decent sized bounty is low, especially if I don't have the source code for the program.

Thanks.

I would suspect that the ratio of income to work hours would be extremely low.

I think all you need to know was already stated in that part saying "some pay you with T-shirts".

Personally I've always been a proponent of the mindset that pay is for goods and/or services. I.e. you provide an actual service, under the agreement that you'll be paid for it, then that's a viable income. Same thing for goods, you provide a good under the agreement that you'll be paid for it, then that's a viable income. These bug bounty programs "promise" with all kinds of disclaimers. Whereas if they offered you a tangible statement saying that they'd compensate you for your time, then it'd be a viable income.