Australian apprentices will have the support they need to take up a trade and complete their training, with the Government delivering on its election commitment to introduce Trade Support Loans.
The Government is determined to build the skilled workforce of the future to enhance our productivity and our international competiveness and Trade Support Loans are an essential part of the Government s Economic Action Strategy, Minister for Industry
These loans will ease the financial pressures on apprentices and help them complete their training and move into paid jobs.
We want to encourage young Australians to undertake apprenticeships, and most importantly to complete their training. All too often apprentices don t finish their training because they can t afford the costs.
Trade Support Loans will help apprentices with the cost of living during their training and provide them with the support they need while acquiring the skills to move into jobs.
Access to the loans is spread over four years of an apprenticeship, with most of the loan amount accessible in the first couple of years, because we know from feedback that this is when costs are the highest, and when access to a helping hand would be of most use in keeping young apprentices in training.
Trade Support Loans are flexible and are designed to support apprentices in their individual circumstances. Eligible apprentices can opt-in and opt-out of the programme as their needs change and may choose to borrow a few thousand dollars for work gear or equipment, save up the payments to buy a second-hand car, or use the full amount to cover living expenses during their training.
Under Trade Support Loans apprentices can access
Trade Support Loans will specifically target occupations on the National Skills Needs List such as plumbers, diesel mechanics, electricians and fitters, as well as priority areas in horticulture and agriculture.
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