Trade Support Loan: Who Qualifies and What You Get
Learn how apprentices in priority trades can access concessional loans to help cover living costs during their training period.
The Trade Support Loan (TSL) is a financial assistance program designed to help apprentices manage their daily living expenses while they undergo training in specific priority trades.
Who it's for
This scheme is available to apprentices who are training in trades identified as being in high priority.
What you get
You can access a concessional loan, which is a loan offered at a lower interest rate or more favorable terms than standard commercial loans, to help cover your costs of living while you complete your training.
What it costs you
This is not free money. You are required to repay the loan once your income reaches a specific threshold set by the government.
The catch to know
The most important thing to remember is that this is a debt that must be paid back, not a grant or a gift.
How to apply
- Confirm that your specific trade is on the priority list.
- Check your eligibility based on your current apprenticeship status.
- Follow the official application process through the relevant government department.