As of the 1 January 2024, the existing Trade Support Loan (TSL) will be renamed to the Australian Apprenticeship Support Loan (AASL) to reflect the expanding eligibility that will now include all Australian Apprentices working in priority occupations, including those in the non-trade occupations for the first time
These changes will align TSL eligibility with the Australian Apprenticeships Incentive System (Incentives System) which commenced on 1 July 2022, and will make it available for all Apprentices and Trainees in occupations on the Australian Apprenticeship Priority List.
What is a Australian Apprenticeship Support Loan?
Australian Apprenticeship Support Loans can help you pay for your everyday living expenses while you undertake your Apprenticeship or Traineeship. It is a government funded loan that is paid in monthly installments for up to six months at a time. Your debt is indexed annually which means the amount you repay in total will be more than the original amount of the loan.
Where can I find more information about the Australian Apprenticeship Support Loan?
More information about this change will be made available after 1 January 2024 via the Australian Government Apprenticeships Website.
Continue to watch this space for further updates.