Back-to-study financial pressures eased for Australian students and families with the help of Saver Plus

As University and TAFE students across the country return to their studies, more students are turning to Saver Plus, the world’s largest and longest running financial education and matched savings program. New data shows the number of eligible tertiary students entering the program more than tripled last year.

Established in 2003 by ANZ and the Brotherhood of St. Laurence (BSL) and delivered in partnership with The Smith Family and Berry Street, Saver Plus has helped more than 64,000 Australians ease the stress of education costs for themselves or their family, while building their financial wellbeing and developing long-term savings habits. Saver Plus is funded by ANZ and the Australian Government Department of Social Services.

Utilising the power of goal setting, incentives and online MoneyMinded financial education workshops, Saver Plus helps participants build money management skills and become regular savers. At the completion of the 10-month program, ANZ will match savings up to $500 to be used to purchase education-related items.

BSL data on Saver Plus shows there has been a significant increase in participants saving for their own education expenses, with the number of tertiary students entering the program from July to December 2024 more than triple compared to the same period in 2023. The majority of Saver Plus student participants were enrolled in bachelor’s degrees and were saving for technology items to support their study.

Since its inception, participants have collectively saved more $31.5 million, with ANZ matching a further $26.5 million.

84% of Saver Plus participants report still saving money more than seven years after completing the program. Additionally, Saver Plus participants are likely to pass on the skills they have learnt to family and friends, creating a new generation of savers, with 88% of participants encouraging their children and other family members to save.

When Saver Plus participant Gaia moved from regional Victoria to Melbourne to study film and television, she knew that balancing university and the cost of living away from home would be a challenge. Gaia says joining Saver Plus and participating in the MoneyMinded workshops was a game changer and that she became more intentional about her spending.

“When I first heard about it (Saver Plus), I thought it was going to be something that would be much harder to get involved with because it's so generous. But it was really, really easy…I didn't find it stressful at all. It was wonderful,” Gaia said.

Brotherhood of St. Laurence Executive Director, Travers McLeod said: “We know that education costs weigh heavily on the minds of students and families at this time of year, with textbooks, laptops, tools and uniforms to be purchased. Saver Plus is a great way to ease some of that financial stress while building critical lifelong savings habits, budgeting skills and financial confidence.”

ANZ's Managing Director of Customer Engagement, Katherine Bray said: “Saver Plus’s annual campaign helps families and individuals ease some of the pressures of study related costs. In recent years, we have seen a significant uptake in tertiary students completing Saver Plus to save for their own education expenses, with their studies ranging from certificate level to doctorate degrees.

“The national, online expansion of Saver Plus has allowed us to reach a greater range of participants, and we are proud to help Australians across the country support their own or their family’s education while building financial wellbeing and reaching savings goals,” Bray said.

People wanting to participate in Saver Plus must:

• have a current Health Care or Pensioner Concession Card and an eligible Centrelink payment*
• have other regular income (either yourself or your partner)*
• be studying yourself OR have a child in school (can be starting school next year)
• be 18+ years old
• agree to join in free online financial education workshops.

*Many types of income and Centrelink payments are eligible, see the Saver Plus terms and conditions for more information.

For more information, visit the Saver Plus page .

For media enquiries contact:

BSL: Michelle Schwensen
Senior Manager Communications and Engagement
Tel: +61 491 287 359