CHECK OUT THE NEW SIDCHROME APPRENTICE CATALOGUE
HOW TO REDEEM AS AN APPRENTICE
Proof of apprenticeship can be in the form of a TAFE/MTA college enrolment letter/form, ID Card or letter from your institution stating you are a current apprentice.
What is a Trade Support Loan?
A Trade Support Loan can help you pay for your everyday living expenses while you undertake your apprenticeship or traineeship. It is an interest-free government funded loan that is paid in monthly instalments for up to six months at a time. Your debt is indexed annually and you will get a 20 percent discount on your debt when you have successfully completed your apprenticeship.
How much can I borrow?
You decide how much money you borrow with a Trade Support Loan. You could borrow just a small amount over a few months or receive payments over the four years of your apprenticeship, up to the lifetime limit of $21,542 (for 2020-21).
TSL Payments are made monthly:
$718.07 per month in year one of your apprenticeship
$538.56 per month in year two of your apprenticeship
$359.04 per month in year three of your apprenticeship
$179.52 per month in year four of your apprenticeship
The loan amounts are higher in the early years of training to compensate for your lower wages.