With Year 12 students about to finish school with an uncertain future ahead of them thanks to COVID-19, what financial support is available for young Australians?
By Damien Haffenden
With Year 12 students about to finish school with an uncertain future ahead of them thanks to COVID-19, what financial support is available for young Australians?
By Damien Haffenden
As the class of 2020 prepares for life after graduation, teenagers across the country are looking towards what’s next.
But, with the youth unemployment rate rising to 14.5 per cent and 50 per cent of Australian workers experiencing some form of financial stress since the pandemic, it’s only natural many parents have concerns about their children’s futures.
Hank Jongen, General Manager of Services Australia, which includes Centrelink and Medicare, outlined the support available to young people as they transition out of school.
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“The most appropriate payment for young people that are either moving on to study or to look for employment is Youth Allowance,” Jongen said.
Youth Allowance is the main payment for young people under 24 and under who are:
“We encourage people to start the claim process about 13 weeks prior to when they are starting,” Jongen said.
“So, for example, if you are starting uni, that’s about mid-March, we would encourage students to start the claim process in mid-December.”
If your child finishes Year 12 in November or December, the Family Tax Benefit will be paid until December 31, 2020. Parents will need to make sure their child’s education details are up to date in their Centrelink online account, including when their child finishes school.
If your child is claiming Youth Allowance, they can nominate a start date of 1 January, 2021.
Other than Youth Allowance some students might be eligible for payments including:
You can apply for these payments through the MyGov website. Parents are able to assist but your child will need to create their own account to access a range of government services. Students will also need a tax file number and can apply via the ATO website.
