The Canada Apprentice Loan is a federal government program that provides financial assistance to registered apprentices in designated Red Seal trades who are completing their training.
Canada Apprentice Loan program is designed to help apprentices with the cost of tuition, tools, and living expenses while they are enrolled in their apprenticeship programs.
Apprentices must be registered in designated Red Seal trade apprenticeship program & have completed their first year of training. They must also be a Canadian citizen.
The Apprentice Loan provides interest-free loans of up to $4,000 per period of technical training. Apprentices can receive up to $16,000 in total loans throughout their apprenticeship.
Repayment of loan begins 6 months after the apprentice completes their training and interest will start to accrue at that time. The loan can be repaid over a maximum of 10 years.
3 months before the starts of technical training is the earliest you can submit application & the final day of training is the latest you can apply for a Canada Apprentice Loan.