Unlock Your Future: Grab the $400 School Savings Bonus Today!

The Allan Labor Government is launching a $400 School Saving Bonus this week, aimed at easing the financial burden on busy families in Victoria amid rising living costs. This initiative is designed to support parents during the school year.

P24 News Media

November 25, 2024

1 minute

Unlock Your Future: Grab the $400 School Savings Bonus Today!

India

Today, Steve McGhie, the Member for Melton, declared that families will soon have the opportunity to benefit from the School Saving Bonus, a program aimed at alleviating some of the financial burdens associated with schooling. This initiative will assist with expenses related to textbooks, uniforms, camps, excursions, and various other school-related activities.

The Labor Government is making a significant investment of $280 million, which will provide much-needed cost-of-living relief to approximately 700,000 families across Victoria. This financial support is designed to allow families ample time to plan and budget effectively for the upcoming 2025 school year.

For parents with children enrolled in government schools, accessing this bonus is straightforward—there’s no need for an application. It is a free, automatic, and universally available initiative. Families can expect to receive an email this week, granting them access to $400 for each child enrolled.

The flexibility of the School Saving Bonus is one of its key features; families can determine how they wish to use their funds. Whether they opt for vouchers for uniforms and textbooks or prefer to allocate the funds to their school account for camps, excursions, or other extracurricular activities, the choice is in their hands.

The bonus is calculated per child, meaning that a family with three school-aged children will receive a total of $1,200 to aid in covering educational expenses. Vouchers for uniforms and textbooks will be valid at local suppliers approved by schools, while any funds designated for activities will be credited directly to the family's school account.

Parents are free to purchase uniforms and textbooks either in person or online through designated vendors, including State School Relief, which offers an array of items such as shoes, swimwear, and workwear for students enrolled in the VCE Vocational Major stream.

Moreover, vouchers can be utilized at school-operated second-hand uniform and textbook shops, making them even more accessible. The vouchers for textbooks and uniforms will remain valid until 30 June 2025, providing families with ample time to make necessary purchases.

Any unspent funds from the voucher system will automatically transition to the family’s school account once the voucher period concludes, allowing parents to utilize any remaining balance for future educational activities.

For families whose children attend non-government schools, the $400 will be allocated directly to the respective schools, which will manage the funds in collaboration with the families to ensure they align with the program's objectives. Families with students in non-government institutions who qualify for the means-tested Camps, Sports, and Excursions Fund—such as those holding concession or healthcare cards—will also be eligible for this School Saving Bonus. To access both support types, families will only need to apply for the Camps, Sports, and Excursions Fund.

In addition to the School Saving Bonus, the Labor Government is actively seeking to support families facing rising living costs through various initiatives. Notably, the School Breakfast Clubs have successfully served over 50 million meals, and further vouchers are being introduced through the Get Active Kids program.

Furthermore, the Labor Government is expanding the Glasses for Kids program threefold, providing an additional layer of support to help families save time, money, and effort.

For further details regarding the $400 School Saving Bonus, families can visit vic.gov.au/school-saving-bonus.

As quoted by Member for Melton Steve McGhie, “This is about ensuring that young Victorians have everything they need at school, along with all the additional elements that contribute to a fun and engaging learning experience.”