Hon Brendan O'Connor MP

Minister for Skills and Training

Member for Gorton

Anne Stanley MP

Government Whip

Member for Werriwa

Expanding Trade Support Loans

The Albanese Government is expanding the eligibility of Trade Support Loans to better help apprentices with the cost-of-living.

Trade Support Loans – soon to be known as Australian Apprenticeships Support Loans (AASLs) – provide apprentices and trainees with interest-free, income contingent government loans to directly support them with the cost-of-living as they complete their training.

Since July 2014, over 167,000 apprentices have taken up a Trade Support Loan, helping them meet their everyday expenses.

However, the list of eligible apprentices has not been updated since 2014 leading to critically important non-trade workers being excluded from the program.

The Trade Support Loans Amendment recently passed the Parliament and will expand the eligibility to include – for the first time – non-trade occupations such as early childhood education, aged care, and disability care.

The Trade Support Loan Priority List will be replaced with a new Australian Apprenticeship Priority List, expanding the current occupations eligible and supporting those who are training in the vital sectors that are experiencing critical skill shortages.

In 2023, these changes mean that approximately 35,000 additional apprentices and trainees would become eligible, particularly benefiting women.

Those who participate in the scheme will be eligible for a 20 per cent discount on their loan on competition of their training.

Quotes attributable to Minister for Skills and Training, the Hon Brendan O’Connor:

“Too many apprentices don’t finish their training, many due to financial hardship. These changes inject cost of living relief so more people can access immediate financial support to help them complete their apprenticeship or traineeship.

“The expanded Australian Apprentice Support Loans will also help to address the gender pay gap, by making more loans available to women apprentices and trainees.

“Instead of students dropping out, these loans will help them complete their course. This will help to address skills shortages and deliver skilled workers for a stronger economy.”

Quotes attributable to the Member for Werriwa, Ms Anne Stanley MP:

“Year on year, apprenticeship completion rates have been declining and we must do what we can to reverse that trend.

“Australia is currently experiencing a skills shortage and the Albanese Government is helping those in critical occupations and supporting them during their training.

“Those in the care economy have been excluded from participating in this scheme and these changes will ensure that those undervalued sectors are finally recognised.

“This change builds on the Albanese Government’s commitment to strengthen financial and non-financial support to Australian apprentices.”

“The expanded eligibility will help those in our community with the cost of living as they complete their training.”

Media Contact:

Anne Stanley MP:

Alaa Ahmad - (02) 8783 0977