Anglicare Victoria recently commissioned the report Raising our children: Guiding young Victorians into adulthood which considered the socioeconomic benefits of raising the age of leaving care from 18 to 21 years.
Based on modelling assumptions detailed in the report, the findings showed a return on investment of $1.84 for every dollar spent in allowing young people to stay in care until 21 years of age, either in direct savings or in increased income to the individual and the community. This aligns with other international research which finds that, compared to those who leave at 18, young people who are able to stay in care until 21 have demonstrably better outcomes, including greater educational engagement and attainment, less contact with the justice system, delayed parenthood, and increased wage-earning potential.
This research shows how valuable carers are to both the young people who rely on them and to the wider community. Read the report here.