Young Victorians leaving state care will be better supported to transition to independent living as the Andrews Labor Government moves ahead with Australia’s largest ever Social Impact Bond.
Minister for Families and Children Jenny Mikakos and Treasurer Tim Pallas today formally launched the COMPASS program, which has received commitments from large philanthropic funds and private individuals to invest $14.2 million in the program.
The program will give care leavers two years’ access to housing and provide them with a support worker to navigate their future, access education, training and employment, and other services based on their needs.
COMPASS aims to achieve a positive and effective transition from out-of-home care – leading to improved health, wellbeing and justice outcomes.
It will support more than 200 care leavers aged between 16 to 18 over the next five years, from foster, kinship and residential care in Melbourne’s west, inner north and Bendigo.
The COMPASS program will complement – not replace – existing services and programs for young people, such as the Home Stretch and Better Futures initiatives.
For more information about the COMPASS program and investors, visit dtf.vic.gov.au/partnerships-addressing-disadvantage/investments-underway.
Quote attributable to Minister for Families and Children Jenny Mikakos
“Kickstarting COMPASS means we can help more young Victorians as they leave care and start living independently – the better they can be supported to live on their own, long-term, the less likely they are to need crisis services down the track.”
Quote attributable to Treasurer Tim Pallas
“COMPASS is Australia’s largest social impact bond and another example of how partnerships between government, investors and not-for-profit organisations can be used to improve outcomes for our most vulnerable Victorians.”
Quote attributable to Anglicare Victoria CEO Paul Macdonald
“Young people leaving care deserve every opportunity to fulfil their potential but face so many more barriers to success than other young people in the community – COMPASS will give them the support they need to have every chance of success in education, work and life.’’
Quote attributable to Vincentcare CEO John Blewonski
“Evidence shows that having appropriate housing and individualised support enables people to look after their health, find a job or get involved in education and training – it empowers them to set goals for their future and achievement.”