To support Australian Apprentices to meet everyday costs while they undertake their training, eligible apprentices will be able to apply for Trade Support Loans. These loans provide up to $24,492 (for 2023-24) in total and are paid monthly in arrears.
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Trade Support Loans are available to eligible apprentices to assist with everyday costs while completing their apprenticeship.
Apprentices will not have to repay the loans until they are earning an income above the minimum repayment threshold ($51,550 for 2023-24). In order to maintain the real value of the loans, the loan amount will be indexed according to the Consumer Price Index.
Apprentices who successfully complete their apprenticeship will receive a 20% discount on their loan amount.
Program Guidelines
Legislation
The Trade Support Loans programme is governed by the Trade Support Loans Act 2014, as well as two legislative instruments.
Priority occupations and qualifications
The following lists, in line with paragraph 5 and 6 of the Trade Support Loans Priority List 2014, provide the occupations and qualifications for which skilled persons are a priority. Australian Apprentices undertaking training in one of these qualifications may be eligible to receive Trade Support Loans.