According to a statement from AT&T, the grant would be used to fund a education support worker for a year, who would provide educational and personal support to disadvantaged students.
The company said AT&T would also carry out volunteer activities for the program, such as packing Christmas hampers and raising additional funds.
The Smith Family's Learning for Life program aims to encourage disadvantaged students to stay in school, tertiary or vocational education.
This year it was supporting 22,200 students from 60 communities in regional, rural and metropolitan Australia, according to the statement.