Over 700,000 Australians Eligible for $400 Cost of Living Payment, To help families manage the rising costs of living, particularly in relation to educational expenses, the Victorian government is introducing a $400 one-time payment called the School Saving Bonus. This initiative is designed to support parents and guardians in preparing their children for the 2025 school year, helping cover the costs of uniforms, textbooks, excursions, camps, and other school-related needs.
The $280 million initiative will benefit around 700,000 families across Victoria, making it easier for children to start the school year with the necessary supplies and activities without added financial strain.
What is the $400 School Saving Bonus?
The School Saving Bonus offers a one-time payment of $400 per child to families with children enrolled in Victorian government schools from Prep to Year 12. This fund, totaling $280 million, is designed to help families with the rising costs associated with education, including school uniforms, textbooks, extracurricular activities, and school camps.
Key Information about the School Saving Bonus:
- Amount: $400 per eligible child.
- Total Fund: $280 million.
- Eligibility: Families with children attending Victorian government schools (Prep to Year 12), excluding full-fee international students, home-schooled children, and TAFE students.
- Special Eligibility for Non-Government Schools: Families with children in non-government schools can qualify if they receive the Camps, Sports, and Excursions Fund (CSEF).
- Payment Method: No application is required. Payments will be made automatically, and families will be notified via email.
- Validity: The funds are available until June 30, 2025. Unused funds will be transferred to the child’s school account for future activities.
Who is Eligible for the Payment?
The $400 School Saving Bonus is available to parents or carers of children attending Victorian government schools for the 2025 academic year. This includes children from Prep to Year 12. However, certain groups are not eligible:
Exclusions:
- Full-fee-paying international students.
- Home-schooled students.
- TAFE students.
Non-Government Schools:
Families whose children attend non-government schools can still qualify for the bonus if they are recipients of the Camps, Sports, and Excursions Fund (CSEF).
How Can the $400 Payment Be Used?
The payment offers families flexibility in how they spend the funds. It can be used to cover various school-related expenses, ensuring that children have the necessary materials and opportunities to succeed in school. The funds can be allocated as follows:
How the Funds Can Be Used:
- Uniforms and Textbooks: The bonus can be used for vouchers redeemable at school-approved suppliers of uniforms and textbooks, including second-hand stores operated by the school.
- School Activities: The funds can also be applied towards school camps, excursions, and other extracurricular activities. If used for these purposes, the funds will be directly credited to the family’s school account.
- Unspent Funds: Any unused funds by the end of the school year will be transferred to the child’s school account for use in future school activities.
No Need to Apply: Automatic Payment
One of the major benefits of the School Saving Bonus is that families do not need to apply for the payment. The Victorian government will automatically distribute the funds to eligible families. Notifications will be sent via email to inform parents and carers of the payment, reducing the burden of having to go through an application process.
Easy and Hassle-Free:
The government’s goal is to ensure that families facing financial pressures don’t have to navigate a complicated application process. This initiative is designed to be simple and accessible, with all eligible families receiving the bonus without any formalities.
A Financial Relief During Difficult Times
The ongoing cost-of-living challenges have made it increasingly difficult for many families to afford basic educational necessities. Premier Jacinta Allan emphasized that no child should have to go without crucial school resources like textbooks or uniforms due to financial hardship. Minister for Education Ben Carroll also expressed that this bonus serves as a timely intervention, ensuring that children have access to all the tools they need for a successful school year.
How to Receive the $400 Bonus
Eligible families can expect to receive an email from the Department of Education outlining how they can access the $400 per child. This automatic payment will help families begin budgeting for the school year without delays. If a family has multiple children enrolled in school, the bonus is multiplied by the number of eligible children. For instance, a family with three children will receive $1,200.
The School Saving Bonus is a much-needed financial relief for families across Victoria, allowing parents to better manage the costs associated with preparing their children for school.
