Australian Apprentices on low wages may be eligible for further financial assistance from the Australian Government, via Trade Support Loans.
Trade Support Loans have replaced the Tools for Your Trade program, and are similar to the HELP loans provided by the Government for tertiary study.
Apprentices may be eligible for a loan of up to $20 000, paid in instalments over the four year apprenticeship. This amount is flexible and fully capable of being tailored to the individual apprentice’s needs and circumstances – and 20% of the loan is discounted upon successful completion of the qualification. The Trade Support Loan is repayable once the individual starts earning over the annual gross salary threshold set by the ATO, and will be deducted in manageable amounts.
Eligible apprentices are those completing trade training in areas found on the Trade Support Priority List. Common trades include:
- General Electrician
- Fitter and Turner
- General Motor Mechanic
- General Plumber
- Welding (First Class)
The Trade Support Loan is administered through the Australian Apprenticeship Support Network Provider (previously Australian Apprenticeship Centre). MIGAS apprentices can contact their MIGAS Field Officer for more information on what steps to take to organise a Trade Support Loan.
Visit the Job Seeker's Useful Information page for more general FAQs and information.
MIGAS apprentices and trainees are supported in a number of other ways when they are dealing with financial difficulties. Read more about the MIGAS Employee Assistance Program.