Australia’s $400 Cost of Living Payment: Victoria is rolling out the School Saving Bonus, a $400 once-off payment aimed at alleviating the financial strain many families face due to rising living costs, particularly those related to education expenses. This initiative will assist families with the costs of school-related activities such as textbooks, uniforms, camps, and excursions, ensuring children are fully prepared for the 2025 school year.
The government has allocated a total of $280 million to this initiative, which will benefit around 700,000 families across the state.
Who is Eligible for the $400 Bonus?
The School Saving Bonus is available to parents and carers of children enrolled in Victorian government schools from Prep to Year 12. However, there are a few exclusions:
- Not Eligible: Full-fee international students, home-schooled students, and TAFE students.
- Non-Government School Eligibility: Families with children attending non-government schools can still qualify if they are recipients of the Camps, Sports, and Excursions Fund (CSEF).
How Families Can Use the $400 Payment
The $400 payment provides families with the flexibility to cover a variety of school-related expenses. Here’s how the funds can be used:
- Uniforms and Textbooks: The payment can be used for vouchers redeemable at local school-approved suppliers for uniforms and textbooks. These vouchers are also accepted at school-operated second-hand stores.
- School Activities: The funds can cover costs for school activities such as camps, excursions, and other extracurricular programs. Any payments made for these activities will be directly credited to the family’s school account.
If funds remain unspent by the end of the school year, the balance will automatically be transferred to the child’s school account for future use.
No Need to Apply
A major benefit of the School Saving Bonus is that families do not need to apply for the payment. It will be automatically provided to eligible families, and they will be notified via email. This automatic process ensures that families, who may already be dealing with financial pressures, don’t face any additional hurdles to access the support.
A Boost for Families During Tough Times
With cost-of-living pressures weighing heavily on many families, particularly in light of rising education expenses, the School Saving Bonus is a welcomed relief. Victorian Premier Jacinta Allan stressed that no family should have to worry about their children missing out on essential educational resources or activities due to financial concerns.
Minister for Education Ben Carroll echoed these sentiments, emphasizing that the initiative is part of a broader effort by the government to support families, ensuring every child has access to the materials and experiences needed for a strong education.
How to Receive the $400
Eligible families will receive an email from the Department of Education, detailing how to access the $400 per child. This email will ensure families are able to start budgeting and planning for the upcoming school year.
For families with multiple school-aged children, the bonus will be multiplied by the number of eligible children. For example, a family with three eligible children would receive $1,200 in total.
This initiative serves as a financial boost for many, giving families the resources they need to provide their children with the essentials for the new school year.
