If you want to work in a skilled trade in Canada, you will usually need to complete an apprenticeship. But completing the necessary training will cost you time and money, so you might need financial assistance to help make ends meet while you become qualified. And that\u2019s where the Canada Apprentice Loan comes in.<\/p>
The Canada Apprentice Loan provides interest-free loans of up to $4,000 per period of technical training. You can use these funds to pay for tuition costs, buy essential tools and equipment, cover your living expenses and offset the wages you miss out on while completing your training.<\/p>
You can apply for a loan for up to five periods of technical training, so the maximum amount you can access in total through the program is $20,000.<\/p>
You also don\u2019t need to make loan payments while you are still an apprentice. So if you remain a registered apprentice, you don\u2019t have to start repaying what you borrow for up to six years.<\/p>
The Canada Apprentice Loan program is available in all provinces and territories except Quebec. Quebec has its own student financial assistance program in place to provide support to apprentices.<\/p>\n \n\n