Australian Apprenticeship Support Loans (AASL) offer financial support to apprentices and trainees to cover training costs while they develop the skills needed for a successful career.Ìý
AASL is available to all apprentices and trainees working in occupations included on the (Priority List), including non-trade occupations.
Loan amounts are increasing from 1 July 2024Ìý
From 1 July 2024, a loan of up to $25,374 is offered over the life of an apprenticeship.
For those who’ve opted-in, monthly installment rates are:Ìý
- First year:Ìý $10,150Ìý(12 monthly payments of $845.80)Ìý
- Second year: $7,612Ìý(12 monthly payments of $634.35)Ìý
- Third year: $5,075Ìý(12 monthly payments of $422.90)Ìý
- Fourth-year (and beyond): $2,537Ìý(12 monthly payments of $211.45)Ìý
Like HELP loans for tertiary students, AASL loans are repaid via the Australian Taxation Office (ATO) once apprentices earn a minimum amount. The repayment threshold for the 2024-2025 financial year is $54,435.Ìý
For apprentices currently in receipt of AASL payments, no action is required. Revised amounts will be applied automatically in the Apprenticeships Data Management System (ADMS) for installments due on or after 1 July 2024.Ìý
To learn more about the financial support available to apprentices and trainees, and for updates on AASL, visit financial support for Australian apprentices.
