What are Trade Support Loans?

Trade Support Loans are loans paid in instalments totaling up to $20,808 over the life of an Australian Apprenticeship. These loans are intended to assist apprentices with everyday costs while they complete their apprenticeship. Eligible trade Australian Apprentices may apply (opt-in) for regular instalments according to their needs.

Who is eligible to receive Trade Support Loans?

The Trade Support Loans Priority List identifies those occupations and qualifications eligible for Trade Support Loans. This list includes certificate III or IV qualifications leading to certain priority trade occupations that currently appear on the National Skills Needs List as well as a number of agriculture and horticulture qualifications at the certificate II, III and IV levels.

How much will an apprentice receive if they opt in to receive the Trade Support Loan?

Eligible apprentices can apply for loans totaling up to $20,808 over the life of an apprenticeship. Apprentices will opt in for six monthly periods with loan payments paid monthly in arrears. The amount an apprentice is eligible to receive as a Trade Support Loan is determined by the year of their apprenticeship, that is, whether they are a first, second, third or fourth year apprentice.

Apprentices who successfully complete their apprenticeship will receive a 20 per cent discount, meaning that the amount they borrowed will be reduced by 20 per cent.

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