School Saving Bonus

School Saving Bonus 

As announced in the 2024/25 Victorian Budget, every student enrolled in a Victorian government school for 2025, will receive access to a one-off $400 School Saving Bonus. This is to be used towards 2025 education-related costs such as:

• camps, trips, excursions and incursions
• swimming and sporting programs
• outdoor education programs
• graduations
• school uniforms
• textbooks.

The School Saving Bonus is in addition to existing and continuing means-tested supports for Camps, Sports and Excursions Fund (CSEF).

Access to the School Saving Bonus will be provided to schools and families in Term 4, 2024.

The Department of Education will email you in November 2024 with information about accessing your $400 School Saving Bonus. Access will be via an online system. You can decide how to best use the School Saving Bonus for your family's needs and choose how to allocate the $400 in the online system. Please check your junk mail regularly to make sure you do not miss an important email.

To ensure you receive the School Saving Bonus, the Department of Education requests that parents and carers ensure their email address and phone number are up to date by Friday 18 October 2024. This will occur by email to your registered email address.

You can check this information on Compass as follows:

1. If you are in the app, you need to go to three lines bottom right “more” then “open in

    Browser.

2. On the Compass Homepage navigate to the Tools menu (the cog icon next to your initials at top right of the screen).

3. Click on Update my details

4. Check that your email address and mobile number are correct.

5. If an update is required, please amend and then click update details.

If your child, or children are changing government school for Term 1 2025, or starting Prep or Year 7 in 2025, please complete enrolment. For more information, read about Enrolling in School.

There is nothing further you need to do to receive the School Saving Bonus.

Any amount that you choose to allocate to textbooks and uniforms ($50 vouchers will be

provided for these items) will be valid until 30 June 2025. Any unused funds will transfer to

your child’s school account for future activities.

Funds will roll over for use in future years if it is not all spent in 2025.

Families who have more than one child at the same school can combine their School Saving Bonus payments to use on one child, or for a specific activity. So, for example, a family with 3 children who are all government school students would receive support to the value of $1,200 and choose how they spend those funds. The School Saving Bonus cannot be combined across different schools.

To learn more about the School Saving Bonus visit vic.gov.au/school-saving-bonus.