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$455 Centrelink cash boost that 70,000 Aussies can claim now: ‘Money in your pocket sooner

$455 Centrelink cash boost that 70,000 Aussies can claim now: ‘Money in your pocket sooner

Young Australians planning to attend university or TAFE next year are being encouraged to check their eligibility for Centrelink payments. With various financial support options available for those finishing high school, applying early could mean “money in your pocket sooner.”

Services Australia is advising school leavers who are heading to study or start an apprenticeship next year to apply for Youth Allowance “as early as possible.” According to Services Australia, it’s a “common myth” that you need to wait for your ATAR or course offer before applying, but that’s not the case.

For a single person over 18 living with their parents, the maximum Youth Allowance rate is $455.20 a fortnight, which will rise to $472.50 starting January 1 due to regular indexation.

“There’s a strong incentive for Year 12 students heading straight to university or TAFE next year to get their claims in before Christmas,” said Hank Jongen, Services Australia general manager. “Claiming early could mean getting financial support over the summer break, before your course or training begins.”

Each year, over 70,000 students apply for Youth Allowance ahead of Semester 1, making it clear there’s no reason to wait.

What other Centrelink support is available for school leavers?

In addition to Youth Allowance, there are several other financial supports available:

  • Youth Allowance: For students or apprentices aged 24 or younger, or jobseekers aged 21 or younger who are looking for work or temporarily unable to work.
  • ABSTUDY: Financial help for Aboriginal and Torres Strait Islander students or apprentices.
  • Relocation Scholarship: A once-per-year payment if you’re receiving Youth Allowance or ABSTUDY and need to move for study from a regional or remote area.
  • Tertiary Access Payment: A one-off payment of up to $5,000 for students who move from a regional or remote area after finishing Year 12. You don’t need to be eligible for Youth Allowance to apply.
  • Student Start-up Loan: A voluntary loan of $1,273, available twice a year for higher education students, to be repaid once you earn above a certain threshold.

Services Australia recommends that all young Aussies create their own myGov account to manage tax returns, Medicare, and government support payments. It’s also worth getting your own Medicare card, especially if you’re moving away from home, and updating your bank details to ensure you receive any eligible rebates.

To see which payments you may be eligible for and the amounts you could receive, you can use Centrelink’s Payment Finder.

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