Trade Support Loan applications hit 518 in Farrer electorate

Trade Support Loan applications hit 518 in Farrer electorate

The number of Australian apprentices supported through the Australian Government’s Trade Support Loans has doubled in the past year, with 40,000 apprentices accessing loans nationwide, including 518 across the Farrer electorate.

Member for Farrer, Sussan Ley, said the large number of applicants showed that the programme is a vital helping hand for Australian apprentices seeking to complete trade qualifications.

“I am pleased that the Australian Government’s Trade Support Loans programme has allowed these 518 apprentices based in cities and towns across our region to access financial assistance while completing their training.

“Apprenticeships are vital to boosting the nation’s skilled workforce; delivering opportunities for young people entering the workforce and for those looking for a career change,” Ms Ley 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, with the objective of the programme being to encourage and assist apprentices to complete their training in key sectors of the economy where there are real skill shortages.

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.

“It is important we give apprentices the best chance to complete their trade qualification and I urge any of our local apprentices, who may be in need of a helping hand, to apply for a Trade Support Loan,” Ms Ley said.

For more information visit: http://ow.ly/10nPJl