Budget 2024/25 – Helping School Families With Cost-Of-Living Pressures

Families just want the best for their kids, but with cost-of-living rising, school uniforms, camps, sports – the other things that make school fun – it all adds up.

The Allan Labor Government is delivering real, 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 2024/25 delivers the School Saving 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.

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.

We’ll 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 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.