What are your options now that the Schoolkids Bonus is now longer available?
The Schoolkids Bonus was a payment of up to $840 a year made to families in Australia with school-age children to help pay for education costs. However, the Schoolkids Bonus was phased out in July 2016, so unfortunately you can't apply for it any more.
If you're running short of cash to pay educational expenses for your family, you do have other options, including:
- Using a low rate credit card for school purchases. This can be a useful option for short-term expenses like new textbooks and uniforms. While a lower interest rate will help, aim to pay off the card in full as soon as possible.
- Taking out a personal loan to cover bigger expenses like computers. Interest rates on personal loans can be lower than rates for credit cards.
- Setting up a savings account to cover future expenses. While this won't help with immediate problems, saving regularly towards educational costs will cushion you against future shocks.
Check out these back-to-school deals
Skip Hop Insulated Food Jar
Lime Tree Kids
Office for Mac Home & Student
Clarks Intrigue Junior School Shoes
Adidas Originals Kids Boys Racer Lite Sneaker
Skip Hop Penguin Zoo Pack
Students save 10% on a Surface Pro
Herschel Little America Backpack