The state budget will deliver a once-off bonus for school kids across the state later this year, to support families with school costs.
The government is delivering the much-needed support with the new school saving bonus – giving families of school kids one less thing to worry about and making life that little bit easier.
The Victorian Budget for 2024/25 will deliver the bonus as part of a $287 million package – providing $400 in support for every child at government schools, and eligible concession card holders at non-government schools.
Premier Jacinta Allan said the state is delivering a budget that’s helping Victorian families.
“The School Saving Bonus sits at the heart of our plan to ease cost-of-living pressures for families right across the state,” she said.
“We won’t let any child miss out on the things that make Victorian education great, so we’re giving families the flexibility to use the School Saving Bonus on the things they need – from sports to camps, excursions and uniforms.”
Delivered through schools, the boost will help up to 700,000 students with uniforms, camps, excursions and sporting events at school – to make sure no child misses out on school activities due to financial stress.
The once-off bonus will be applied for each child, but can be spent per family – so a family with three school children will receive $1,200 in support to spend on school costs.
The government plans to work closely with the Department of Education on how to make the process easiest for families.
Support will be provided in two ways: a credit towards the cost of participating in activities in school, and vouchers for parents to help with purchasing school uniforms.
The planned bonus will be provided during Term Four of this year, making sure families have time to plan and budget for the 2025 school year ahead.
More guidance will be provided to families in Term 3.
The school saving bonus builds on existing means-tested support for families doing it tough with school costs – and will be applied on top of those measures for families eligible for other support.
Minister for Education Ben Carroll said that the government is proud to deliver the School Saving Bonus.
“It builds on our record support to make sure kids have every opportunity to participate and shine at school,” he said.
