Victorian families will benefit from a one-time $400 payment aimed at easing the financial strain of rising living costs, particularly in relation to education expenses. The School Saving Bonus will help cover costs like uniforms, textbooks, camps, and extracurricular activities, ensuring that children have the necessary resources to begin the 2025 school year successfully. Around 700,000 families are set to receive a share of the $280 million allocated for this initiative.
Details of the $400 Cost of Living Cash Boost
The School Saving Bonus is designed to assist families with the rising costs of schooling. Below are the key details of this support initiative:
- Amount: $400 per child
- Total Fund: $280 million
- Eligibility: Families with children attending Victorian government schools from Prep to Year 12 (excluding international, home-schooled, and TAFE students).
- Special Criteria: Families with children at non-government schools can qualify if they are recipients of the Camps, Sports, and Excursions Fund (CSEF).
- Payment Method: The payment is automatic, with no application required. Families will be notified via email.
- Voucher Validity: The funds are valid until June 30, 2025. Any unused funds will be transferred to the school for future activities.
Who Is Eligible for the $400 Bonus?
The $400 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, certain groups are excluded:
- Ineligible: Full-fee international students, home-schooled students, and TAFE students.
- Non-Government Schools: Families with children at non-government schools may still be eligible if they receive the Camps, Sports, and Excursions Fund (CSEF).
How Families Can Use the $400 Payment
Families have the flexibility to use the $400 payment for various school-related expenses. Here are some common ways the funds can be spent:
- Uniforms and Textbooks: The bonus can be used at approved suppliers of uniforms and textbooks, including second-hand stores operated by schools.
- School Activities: The payment can cover costs for camps, excursions, or extracurricular programs. If used for these activities, the funds will be credited directly to the family’s school account.
- Unused Funds: Any remaining balance will be transferred to the child’s school account for future use, ensuring that the funds are not wasted.
No Need to Apply
A major advantage of the School Saving Bonus is that families do not need to submit an application. The payment will be automatically provided to eligible families, and they will be notified by email. This streamlined process ensures that families facing financial pressures do not have to go through any additional steps to receive the support.
A Boost for Families During Tough Times
With the growing cost-of-living pressures, many families are struggling, especially when it comes to affording education-related expenses. Victorian Premier Jacinta Allan emphasized the importance of this initiative, stating that all families deserve access to quality education and necessary resources like textbooks and school activities. Minister for Education Ben Carroll also echoed these sentiments, describing the $400 bonus as a much-needed relief for families during tough times.
How to Receive the $400
Eligible families will receive an email from the Department of Education this week, detailing how to access the $400 payment per child. The automatic payment process ensures that families can plan and budget for the upcoming school year without unnecessary delays. For families with multiple eligible children, the bonus will be multiplied accordingly. For example, a family with three children will receive a total of $1,200.
