PM announces that the Canada Apprentice Loan program is now accepting applications
Delta, British Columbia
- Prime Minister Stephen Harper today announced that the Canada Apprentice Loan initiative is now open for business and accepting applications. The initiative will help those already apprenticing to complete their training and encourage more Canadians to pursue a career in the skilled trades, allowing participants to take advantage of the many job opportunities across Canada.
The Canada Apprentice Loan, which was introduced in Economic Action Plan 2014, will provide apprentices in Red Seal trades across Canada with access to interest-free loans. These loans will help apprentices address the costs they encounter during technical training, including educational fees, tools and equipment, living expenses and forgone wages. It will be managed by the Canada Student Loans Program, within Employment and Social Development Canada.
Apprentices registered in a Red Seal trade apprenticeship will be able to apply for loans of up to $4,000 per period of technical training. The loans are interest-free until after loan recipients complete or leave their apprenticeship training program, up to a maximum of six years.... Read More