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NMIT supports Trade Support Loans Program

28 Jul 2014

Apprentices who are enrolled in eligible NMIT courses from 1 July 2014 will be able to apply for the Trade Support Loans Program, which has been introduced to ease financial pressure on apprentices. Most apprentices who were eligible for Tools for Your Trade payments will now be eligible for Trade Support Loans.

Recognising that apprentices in selected industries are learning key skills for Australia’s future, the federal government has introduced the Trade Support Loans (TSL) Programme for Certificate III or IV qualifications that lead to an occupation on the National Skills Needs List, or a Certificate II, III or IV qualification in agriculture or horticulture.

The TSL instalments are paid monthly in arrears over four years, and result in total payments of up to $20,000. These payments will be indexed to the Consumer Price Index from 2017.

TSL can be paid regardless of the apprentice’s age, existing worker status or income (though income level will impact when the loan must be repaid, as there is a compulsory repayment threshold).

In addition, apprentices who successfully complete their training will receive a 20% reduction of their TSL debt.

At NMIT, eligible disciplines include Arboriculture, Bricklaying, Plumbing, Meat Processing, Shopfitting, Electrical, Carpentry, Electrical Fitting, Hairdressing, Horticulture (Landscape), Locksmithing, and Engineering – Fabrication.

For a full list of the eligible courses at NMIT and information about the loans, click here.

Detailed information about the Trade Support Loans Program is available here.

Interview / Photo Opportunity

Media enquiries should be directed to the NMIT Communications Coordinator, James Gardener, on 03 92691579, 0413 483 182 or ua.ud1561455310e.tim1561455310n@ren1561455310edrag1561455310semaj1561455310

Northern Melbourne Institute of TAFE trades as NMIT and Melbourne Polytechnic across six campuses and six specialist training centres throughout Melbourne’s north and south east plus a regional campus at Ararat. The institute delivers high quality vocational education in industry-standard facilities.

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