The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

11.2.6 Family Income Management & Student Education Trusts & the Cape York initiative


Family Income Management (FIM) and Student Education Trust (SET) are other measures associated with Cape York Welfare Reform. FIM supports Indigenous families to better budget their income to meet their goals, create more opportunities for their children and improve their financial literacy. FIM builds skills and knowledge so that individuals and families can make fully informed money management decisions. SETs are a money management service that enables individuals to support their child's education and development from 'birth to graduation' by contributing funds to a trust. Parents and other carers make regular contributions to their child's SET which they then use to meet education-related expenses.


On commencing income management, during review points and on exit, the delegate should encourage individuals on income management to visit FIM to obtain assistance in developing a budget, take part in financial education, seek financial counselling or establish banking arrangements.

If the income managed individual goes to FIM, the delegate should encourage income managed individuals to use any skills learnt or utilise any advice given in relation to their income management disbursements. For example, FIM may have assisted the individual to develop long term goals and this could inform how the individual decides to use unallocated income managed funds. Care should always be taken by the delegate to ensure that the individual is aware that the information they provide to and discuss with the money management workers and/or financial counsellor is private and totally separate to their business with the delegate.


In commencing income management, the delegate should check whether the individual is involved in bringing up children, even if the individual is not a parent of a child. If the individual has caring responsibilities for children, then the delegate should firstly consider whether the individual has established a SET for their child or children in their care. If not, the delegate should consider referring the person to discuss the benefits of allocating income managed and discretionary funds to a SET. SETs are a tool developed under Cape York Welfare Reform to support individuals to meet the educational needs of their children. The allocation to a SET is a way of meeting priority needs.

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