Victorian Government Announces School Saving Bonus to Help School Families with Cost-of-Living Pressures

Article: The Victorian Government is taking steps to alleviate the financial burden on school families with the introduction of the School Saving Bonus. As the cost of living continues to rise, families are finding it increasingly challenging to afford school uniforms, camps, and sports activities. In response, the Allan Labor Government has allocated $287 million in the Victorian Budget 2024/25 to provide support to families.

Under the School Saving Bonus, every child at government schools and eligible concession card holders at non-government schools will receive $400 in support. The once-off bonus can be spent per family, meaning a family with three school children will receive $1,200 to use towards school costs. The support will be delivered through schools and can be used for uniforms, camps, excursions, and sporting events.

The aim of the School Saving Bonus is to ensure that no child misses out on school activities due to financial stress. The bonus will be provided during Term Four of this year, giving families time to plan and budget for the 2025 school year ahead. The Department of Education will work closely with families to facilitate the process and provide credits and vouchers for participating in school activities and purchasing uniforms, respectively. With this initiative, the Victorian Government aims to ease the cost-of-living pressures faced by school families and make life a little bit easier for them.

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