Government loan scheme for apprentices

 

Government loan scheme for apprentices

Posted on 16/06/15 in General, HR, Recruitment & Training

Australian Business Apprenticeships Centre General Manager, Andrew Williams, says apprentices struggling to make ends meet should investigate whether they are eligible to access the Government’s Trade Support Loans scheme.


Australian Business Apprenticeships Centre General Manager, Andrew Williams, says apprentices struggling to make ends meet should investigate whether they are eligible to access the Government’s Trade Support Loans scheme.

“More than 20,000 applications for the scheme have been received since its inception in July 2014,” Mr Williams said today.
“Most of the loan amounts are available during the early years of an apprenticeship at a time when meeting costs may be most challenging and when access to extra help may be of most benefit.”

Eligible apprentices working towards  Certificate III or IV to qualify for occupations listed on the National Skills Needs List, such as carpentry and plumbing are able to access $20 000 in loans at concessional rates under the Trade Support Loans scheme.
Apprentices will receive up to $8,000 in the first year of their training, $6,000 in the second year, $4,000 in the third year and $2,000 in the fourth year. Apprentices can opt out at any time.

Apprentices who successfully complete their apprenticeship will receive a 20 per cent discount, meaning that the amount they borrowed will be reduced by 20 per cent.

For more information on the Australian Government’s Trade Support Loans Scheme go to: http://www.australianapprenticeships.gov.au/trade-support-loans
 


Related Posts

Got a question? Call our hotline

1300 363 831
 

Talk to us.

We are the people to talk to about getting the maximum benefit out of employing or becoming an apprentice or trainee.

Top