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TRADE SUPPORT LOANS

The government are no longer offering cash payments to the apprentice, however a new program has launched which allows the apprentice to apply for a government funded loan. For all the details on the new Trade Support Loans, please see below:

 

Trade Support Loans -

·         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 $20,000 worth of income contingent loans and are paid monthly in arrears.

·         Apprentices will not have to repay the loans until they are earning an income above the minimum repayment threshold.

·         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.

 

Trade Support Loans -Up to $20,000

§         Year 1 Up to $8,000

§         Year 2 Up to $6,000

§         Year 3 Up to $4,000

§         Year 4 Up to $2,000

For Full Details, please visit the below websites:

http://www.australianapprenticeships.gov.au/trade-support-loans

www.industry.gov.au/skills/AssistanceForIndividuals/TradeSupportLoans

 

 

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