In a move widely applauded by parents, the Victorian Government has unveiled an expanded $400 School Saving Bonus designed to ease families’ financial burden of education expenses.
During a visit to Footscray Primary School on August 28, Victorian Premier Jacinta Allan and Victorian Education Minister Ben Carroll announced an extension to the original scheme.
Now, in addition to covering costs such as uniforms, camps and excursions, the bonus will also provide much-needed relief for purchasing textbooks.
As families prepare for the 2025 school year, officials confirmed that detailed information on accessing this bonus would be disseminated shortly.
This once-off financial aid, available from late November 2024, will be extended to every child, meaning a family with three children at school will receive $1200.
“We know how tough it is for a lot of families right now,” Ms Allan said.
“We’re giving busy families one less thing to worry about with $400 for school costs like uniforms, excursions and textbooks.”
To make the bonus as straightforward and flexible as possible, the government has ensured that acquiring and spending the bonus requires minimal effort from families.
For students in government schools, the bonus will be automatically applied, requiring no application process.
In the fourth term, families will receive a code that unlocks this financial assistance, allowing them to allocate their funds according to their needs.
The process will slightly differ for eligible students in non-government schools, with funds directed to schools to be managed in consultation with families.
Importantly, eligibility for the means-tested Camps, Sports and Excursions Fund is extended to these families, enabling them to benefit from the School Saving Bonus as well.
This financial relief is part of a larger $287 million educational support package revealed in the Victorian Budget 2024-25, aiming to assist upwards of 700,000 students.
Among other initiatives, the government plans to triple the Glasses for Kids program and provide free, nutritious breakfasts at every government school.
For more information on the $400 School Saving Bonus, visit www.vic.gov.au/school-saving-bonus