The number of Australian apprentices supported through the Turnbull Government’s Trade Support Loans has doubled in the past year, with 40,000 apprentices accessing loans nationwide.
The large number of applicants shows that the programme is a vital helping hand for Australian apprentices seeking to complete trade qualifications.
“Apprenticeships are vital to boosting the nation’s skilled workforce. Apprenticeships are delivering opportunities for young people entering the workforce and for those looking for a career change,” Senator the Hon Scott Ryan, Minister for Vocational Education and Skills, said.
The Trade Support Loans programme offers loans of up to $20,000 to help apprentices cover day-to-day expenses associated with living, learning and completing an apprenticeship. Trade Support Loans can also be used by apprentices to purchase necessary equipment for their chosen trade. The objective of the programme is to encourage and assist apprentices to complete their training in key sectors of the economy where there are real skill shortages.
“It is important we give apprentices the best chance to complete their trade qualification. The Turnbull Government is committed to supporting apprentices,” Senator Ryan said.
As an additional incentive, the Trade Support Loans programme rewards those who successfully complete their apprenticeship by giving them a 20 per cent discount on their loan amount.
“I urge apprentices in need of a helping hand to apply for a Trade Support Loan.”
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