Latest news with #Austudy
Yahoo
13-06-2025
- Business
- Yahoo
$330 a week cash boost available for thousands in weeks
Thousands of Australians studying nursing, teaching, midwifery and social work will soon be able to access the federal government's Prac Payment. These students often report experiencing 'placement poverty' as they need to work unpaid for up to 26 weeks in order to graduate. The new Commonwealth Prac Payment will provide a $331.65 a week payment for eligible students while they are undertaking a placement. This is benchmarked at the single Austudy rate. Prime Minister Anthony Albanese said students shouldn't have to worry about whether they could afford to do placements. RELATED HECS indexation amount for 3 million Australians revealed: 'Add $882' ATO, Centrelink warning over $100 million Powerball lottery win Centrelink cash boost coming from July 1 for millions of Aussies 'If you're studying nursing at TAFE, you can apply starting this week. For uni students, you'll be able to apply from the 1st of July,' he said. 'Whether you want to teach the next generation or care for your fellow Australians, we're providing real support to help you graduate.' Around 68,000 higher education students and more than 5,000 eligible VET students are estimated to be eligible for the payment each year. The government has said it will invest $427.4 million over the forward estimates to introduce the payment from July 1. Yahoo Finance has spoken to students required to do unpaid placements who said the hundreds, if not thousands, of lost hours of potential work mean they struggle to afford basics like food and housing. The payment was a recommendation of the Australian Universities Accord, which reviewed the performance and effectiveness of the higher education system. Teaching students, for example, have to do 16 weeks of unpaid practical experience, nurses do 20 weeks, and social workers do 26 weeks. The payment will be available to domestic students studying a Bachelor's or Master's of nursing, teaching, midwifery and social work, or a Diploma of nursing, while they are undertaking a mandatory placement. Students will need to be on a Commonwealth income support payment, such as ABSTUDY, Austudy, Youth Allowance or DVA Education Allowance. Or they will need to show that they work more than 15 hours per week during their normal uni studies and don't earn more than $1,500 per week before tax. The payment won't be available to allied health professions, despite the placement requirements also being in place for them. The government will be cutting HECS debts by 20 per cent and said this will be the first piece of legislation introduced when parliament returns on July 22. This will be backdated so it applies from June 1 this year, before indexation was applied. The indexation rate this year was 3.2 per cent, based off the Consumer Price Index. Someone with the average $27,600 debt would see around $5,520 wiped from their outstanding loans. The minimum repayment threshold for student loans is also set to be raised on July 1. Those with debt will start repayment loans once their income hits $67,000, up from the current $54,000 threshold. Compulsory repayments will only be calculated on the income above the $67,000 threshold instead of the total annual in retrieving data Sign in to access your portfolio Error in retrieving data
Time of India
12-06-2025
- Business
- Time of India
Centrelink cash boost for Australians arrives July 1: How to claim & who's eligible
Live Events What's Changing & When From July 1, payments and thresholds across many social services will rise by 2.4%. The increase follows earlier payment raises made in January and March this year. Who Gets More Money in this Cash Boost JobSeeker, Youth Allowance, Austudy, ABSTUDY Living Allowance, Parenting Payment, and Special Benefit Age Pension, Disability Support Pension, and Carer Payment Family Tax Benefit Part A & B, Paid Parental Leave, Newborn Supplement, and Multiple Birth Allowance How Much Will You Receive? Families with children under 13 in Family Tax Benefit A will gain about $5 extra per fortnight. Families with children aged 13+ will see the rate climb to $295.82 per fortnight. Newborn Supplement recipients receive roughly $48 more over 13 weeks. Triplet parents pick up an extra $120 over the year. The Paid Parental Leave income cap rises, too; the individual limit is $180,007, and the family cap is $373,094. What Isn't Included This Round Youth and student payments were already adjusted in January, so they won't see another rise now. JobSeeker and similar payments go next in March and September indexation cycles. How to Access the Cash Boost No action is needed; eligible recipients receive the extra cash automatically after July 1. Ensure your myGov–Centrelink account is up to date, especially bank details and personal information [you can update key changes online]. Check the Department of Social Services website for new rates and eligibility thresholds. Government Perspective (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Around 2.4 million Australians who rely on Centrelink and Services Australia support will receive a small increase in their payments starting July 1. This cash boost for Australians is part of the government's recent increase in social services by 2.4%, offering some relief to families, job seekers, students, pensioners, and automatic indexation means eligible recipients of JobSeeker, Youth Allowance, Austudy, ABSTUDY Living Allowance, Parenting Payment, and Special Benefit will receive more money in their bank receiving paid parental leave, family tax benefits (Parts A and B), newborn supplements, or multiple birth Allowances will also addition, pensioners and carers, those on the Age Pension, Disability Support Pension, and Carer Payment, will see modest increases as income and asset thresholds are regular adjustment is made to keep payments in line with the cost of 2.4 million people will benefit, including recipients of:Social Services Minister Tanya Plibersek said this indexation reflects the rising cost of living. She noted, 'From 1 July, millions of recipients of social security payments will see more money in their bank accounts.'If you receive a Centrelink or Services Australia payment listed above, expect a modest automatic boost from July 1. No action needed, just keep your details current and check your account. For complete rate breakdowns, visit the Department of Social Services website.
Yahoo
07-04-2025
- Business
- Yahoo
Major Centrelink payment changes for millions of Aussies from next week: 'Help you get paid'
Centrelink recipients are being reminded that their payments could change as a result of Good Friday next week. The following week will see Easter Monday and Anzac Day. These public holidays will affect reporting and payment dates for Austudy, Farm Household Allowance, JobSeeker Payment, Special Benefit, Status Resolution Support Services Payment, and Youth Allowance. Services Australia has urged people to be aware of their obligations so that no issues arise. "We want to help you plan so you still get paid," Services Australia said. "You may need to report your income early so we can pay you during this closure. We may pay you early." RELATED Centrelink change to see thousands more Aussies eligible for age pension Australians offered fresh $150 energy rebate from July 1 in $1.8b budget promise: 'Hip-pocket relief' Aussie mum ditches 'crazy' Sydney property market in growing cost-of-living trend: 'Didn't have a chance' You'll have to log into your Centrelink account, which will inform you what you have to do over these public holidays. If your account shows you need to report your income early, you'll have to show what you expect to be paid for that new reporting period. You'll also have to do this for any other changes that might affect your payment. If you do this, you'll receive your payment before those public holiday closures. If there are any mistakes, you will have 14 days to correct them. Or, you can wait until your next reporting period to update the details. If you report your income on Good Friday, Easter Monday, or Anzac Day, then you'll get paid after that date. You can also choose to report after your allocated period if: you're unsure of your employment income there are changes to your circumstances during your reporting period If you don't have to report your income to receive your payment, you could receive it before one of those public holidays. Services Australia said that all of its in-person centres and most of its call centres will be shut down for those three public holidays: Good Friday - April 18 Easter Monday - April 21 Anzac Day (Friday) - April 25 "We won't delay payments because of a public holiday, but we may pay you earlier than normal," Services Australia said. "When we make an early payment, we pay as close to and before your normal payment day. You'll need to budget so this payment lasts until your next payment day."Sign in to access your portfolio
Yahoo
26-01-2025
- Business
- Yahoo
Centrelink warning over $1,321 cash boost now available for thousands: 'Can add up'
Services Australia has revealed that applications for the Student Start-up Loan (SSL) have opened for 2025. It's a cash boost available for eligible Aussies that can be claimed twice a year. You can borrow upwards of $1,321 in January and June if you're receiving other payments like Youth Allowance, Austudy or ABSTUDY Living Allowance. Centrelink said it's a tax-free loan that can help with your study supplies, travel expenses and living payments. But the government body also cautioned people about the impact it can have if you sign up. Centrelink payment warning after Aussies targeted: 'Urgently update' Work-from-home debate fires up as Aussie exposes 'ridiculous' reality of return to office Major warning to mortgage payers as RBA interest rate cuts approach: 'Will not' "You'll need to pay back the amount you borrow plus indexation. Over time this can add up to a lot of money," it said. There were plenty of headlines last year about how Aussies had been struggling to pay off the HECS-HELP loans over the years and the SSL works in the same way. Once you start earning over a certain amount of money, a portion of your wage will be deducted to pay off the loan. But on June 1, whatever outstanding amount remains to be repaid will be adjusted for inflation. That can sometimes outstrip what you might have paid during the year and, in some cases, could even see the loan go up over time rather than down. "You should think about how this will impact you in the long term before you apply," Services Australia said. "There may be other options that are better for you including no-interest loans for smaller items." Last year, the indexation increase was 4.7 per cent and the year before it was a whopping 7.1 per cent. But the government introduced new legislation to make the indexation rate whatever is lowest out of the consumer price index or the wage price index. This helped lower the 2024 indexation rate to 4 per cent and 2023's down to just 3.2 per cent. To sign up for an SSL, you have to already be receiving Centrelink payments. You also have to apply during the loan period and at least 35 days before your course ends. The loan period is from January 1 to June 30, and July 1 to December 31. If starting a new course, the loan will be paid along with your next regular student payment after your course start date. The course has to be one that leads to a degree or diploma, or is a preparatory course before you start a degree or diploma. It can't be a vocational education or training course and must be on the National Register of Higher Education Providers. You can get an SSL if you are attending a university, some private colleges, and some TAFE colleges. You will be officially qualified for the SSL if you are still studying and hit all the other eligibility requirements on the 35th day of your in to access your portfolio
