Families across Victoria are set to benefit from a $400 one-off payment designed to ease the financial strain of rising living costs, particularly those related to education. Known as the School Saving Bonus, this initiative will help parents with school-related expenses as they prepare their children for the 2025 school year.
The bonus aims to alleviate the pressures associated with textbooks, uniforms, camps, excursions, and other school activities, ensuring children have everything they need to begin the school year successfully. With a total allocation of $280 million, the initiative will provide support to around 700,000 families across the state.
Key Details of the $400 Cost of Living Cash Boost
The School Saving Bonus is an automatic payment made to eligible families with children enrolled in Victorian government schools. Here are the key aspects of the initiative:
| Aspect | Details |
|---|---|
| Amount | $400 per child |
| Total Fund | $280 million |
| Eligibility | Families with children in Victorian government schools (Prep to Year 12) |
| Exclusions | Full-fee international students, home-schooled students, and TAFE students |
| Non-Government School Eligibility | Families with children at non-government schools may qualify if they receive the Camps, Sports, and Excursions Fund (CSEF) |
| Payment Method | Automatic payment, no application needed |
| Validity | Vouchers valid until June 30, 2025. Any unspent funds will be transferred to the school account for future activities |
Who is Eligible for the $400 Bonus?
The School Saving Bonus is available to parents and carers of children attending Victorian government schools, from Prep to Year 12, for the 2025 school year. However, there are some exclusions:
- Not Eligible: Full-fee international students, home-schooled students, and TAFE students.
- Non-Government School Eligibility: Families with children at non-government schools are eligible if they receive the Camps, Sports, and Excursions Fund (CSEF).
How Families Can Use the $400 Payment
The $400 payment gives families the flexibility to use the funds for a variety of school-related expenses, such as uniforms, textbooks, and extracurricular activities. Here’s how the bonus can be spent:
- Uniforms and Textbooks: The bonus can be used for vouchers redeemable at local, school-approved suppliers of uniforms and textbooks, as well as school-operated second-hand stores.
- School Activities: Funds can cover school activities like camps, excursions, or other extracurricular programs. If the funds are designated for school activities, they will be credited directly to the family’s school account.
Any unspent funds by the end of the school year will be transferred to the school account for use in future activities.
No Need to Apply
One of the most convenient aspects of this initiative is that families do not need to apply for the payment. The School Saving Bonus will be rolled out automatically, and families will be notified by email about the payment. This streamlines the process for families already managing financial challenges.
A Boost for Families During Tough Times
With the rising cost of living, many families have been struggling to meet the increasing costs of education. Victorian Premier Jacinta Allan has emphasized that the government is committed to ensuring that families have access to high-quality education, which includes providing necessary resources such as textbooks, uniforms, and school activities.
Minister for Education Ben Carroll echoed this sentiment, highlighting that no parent should have to worry about their child missing out on essential school supplies or activities due to financial constraints. The School Saving Bonus is part of the broader effort to support families and ensure that every child has access to a strong educational foundation.
How to Receive the $400
Eligible families will receive an email from the Department of Education detailing how to access the $400 payment. Since the payment is automatically processed, families can begin budgeting and planning for the upcoming school year without delay.
For families with multiple children, the bonus will be multiplied by the number of eligible children. For example, a family with three children would receive $1,200.
This initiative is a timely and much-needed boost for families facing the ongoing challenges of rising living and education costs.
