To support Australian Apprentices to meet everyday costs while they undertake their training, eligible apprentices will be able to apply for Australian Apprenticeship Support Loans. These loans provide up to $25,643 (for 2024-25) in total and are paid monthly in arrears.
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Australian Apprenticeship Support Loans are available to eligible apprentices to assist with everyday costs while completing their apprenticeship.
Apprentices will not have to repay the loans until they are earning an income above the minimum repayment threshold ($54,435 for 2024-25). In order to maintain the real value of the loans, the loan amount will be indexed according to the Consumer Price Index.
Apprentices who successfully complete their apprenticeship will receive a 20% discount on their loan amount.
The Australian Government is proposing changes to reduce the indexation that is applied to HELP and other student loan schemes, including Australian Apprenticeship Support Loans.
The proposed change to indexation is to apply the lower of the Consumer Price Index or the Wage Price Index, with effect from 1 June 2023.
After the passage of the relevant legislation, the revised indexation rates will be automatically applied by the Australian Taxation Office to your loan.
This means that it is likely that you will receive an indexation credit that will reduce your outstanding loan. The indexation rate applied on 1 June 2023 was 7.1 per cent and under the proposal, this would be reduced to 3.2 per cent.
The indexation rate to be applied on 1 June 2024 is projected to be 4.7 per cent and under the proposal, this would be reduced to 4.0 per cent.
Program Guidelines
Australian Apprenticeship Support Loan Guidelines
Legislation
The Australian Apprenticeship Support Loans programme is governed by the Australian Apprenticeship Support Loans Act 2014, as well as two legislative instruments.
- Australian Apprenticeship Support Loans Act 2014
- Australian Apprenticeship Support Loans Rules 2023
- Australian Apprenticeship Support Loans Determination 2023
Priority occupations and qualifications
The following lists provide the occupations and qualifications for which skilled persons are a priority. Australian Apprentices undertaking training in one of these qualifications may be eligible to receive Australian Apprenticeship Support Loans.