Feds to Fund Apprentice Loans in 2015
As an expansion of the Canada Student Loans Program, apprentices registered in Red Seal trades will be able to apply for up to $4,000 per period of block-release technical training. These loans will be interest free, and no payments will be required until an apprentice completes or terminates their apprenticeship training program.
The Red Seal Program is the Canadian standard of excellence for skilled trades. Formally known as the Interprovincial Standards Red Seal Program, it sets common standards to assess the skills of tradespersons across Canada.
Over the coming months, the federal government will finalize implementation details. Additional information, including details on the application process, will become available later this fall.
