Trade Support Loans: Who Qualifies and What You Get
Learn how apprentices in priority occupations can access income-contingent loans to support their training throughout their apprenticeship.
Trade Support Loans are financial loans designed to help apprentices in priority occupations manage their costs while they complete their training.
Who it's for
This scheme is available to apprentices who are studying in occupations identified as being in high priority for the workforce.
What you get
You can receive loans to help cover expenses throughout your apprenticeship. The total amount available can reach up to $24,000 over the course of your training period.
What it costs you
This is not a gift, and you will need to pay the money back. Repayments are managed through the tax system and only begin once your income reaches a certain threshold.
The catch to know
The most important thing to remember is that this is a loan, not a grant. This means the money is added to your total debt and must be repaid as you earn more money.
How to apply
- Check if your specific trade is listed as a priority occupation.
- Confirm your eligibility through the official government portal.
- Follow the application steps provided on the website to request funds for your apprenticeship.