Canada Apprentice Loan Program – Open for Applications

January 9, 2015

Canada Apprentice Loan Program – Open for Applications

 

Ottawa, ON – Recently, the Rt. Honourable Stephen Harper, Prime Minister of Canada, announced that the Canada Apprentice Loan initiative is now open for business and is accepting applications.

 

The Canada Apprentice Loan, as introduced in the 2014 Federal Budget, 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. Apprentices will be able to apply for loans of up to $4,000 per period of technical training. These loans will be interest-free until after loan recipients complete or leave their apprenticeship training program for a maximum of 6 years.

 

“Apprenticeships are an extremely important tool for both employers and future employees. They provide the apprentice with the opportunity to learn a skilled trade which often times leads to future employment at the place of the apprenticeship,” said Larry Miller, Member of Parliament for Bruce-Grey-Owen Sound. “I strongly encourage all local apprentices, who are in need of financial assistance, to apply for the Canada Apprentice Loan Program to support them as they complete their apprenticeship.”

 

It is estimated that at least 26,000 apprentices per year will benefit from over $100 million in Canada Apprentice Loans. Those interested in applying can do so through the Canada Apprentice Loan Online Service which is available at: http://www.esdc.gc.ca/en/support_apprentices/loans.page.

 

For more information please visit; http://canada.ca/apprentice.

 

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