In a promising start to the new year, the Australian government, led by the Hon Brendan O'Connor MP, Minister for Skills and Training, has expanded the Australian Apprenticeship Support Loans scheme. Effective January 1, 2024, approximately 38,000 apprentices and trainees in 60 high-demand occupations are now eligible for increased financial assistance.
Eligible apprentices and trainees can apply for loans offering up to $24,492 interest-free over their apprenticeship, with a 20% discount upon successful completion. Notably, the scheme now includes non-trade apprentices and trainees, benefiting crucial sectors like early childhood education, aged care, and disability care.
This initiative supports the government's commitment to easing cost of living pressures, boosting apprenticeship completion rates, fostering diversity, and addressing critical skill shortages.
For more information on eligible apprenticeships and traineeships, visit Australian Apprenticeship Support Loans.
Minister Brendan O'Connor emphasised, "The expanded scheme provides vital cost-of-living support for apprentices and trainees, including those in occupations predominantly undertaken by women."
This move addresses critical skills shortages and promotes a skilled and diverse workforce.
For more information, click here or call 1300 178 776.