Algonquin College Welcomes New Federal Funding Support for Apprentices

(Ottawa, January 9, 2015) Hundreds of Algonquin College current and future apprentices could benefit from a new federal loan program, which is now open to Red Seal Trade apprentices. The Canada Apprentice Loan program, a 10-year program announced in the 2014 federal budget, is designed to assist apprentices in completing their training, and to encourage more Canadians to consider a career in the skilled trades.

The program offers assistance of up to $4,000 to apprentices for a maximum of five periods of technical training. These loans are interest-free for up to six years, provided the apprentice is registered in an approved Red Seal Trade apprenticeship program.

The loans are intended to defray program costs, including educational fees, tools and equipment, living expenses and forgone wages.

“We believe this new program will make apprentices at all postsecondary institutions more successful in their studies,” says Cheryl Jensen, President, Algonquin College. “This program will help alleviate the financial worries faced by apprentices who step away from work to upgrade their skills. We applaud the government for recognizing the importance of supporting those pursuing a hands-on career in the skilled trades at polytechnic institutions like Algonquin College.”

“Canada Apprentice Loans will enable more apprentices to pursue the next level of their technical training at so many training institutions and organizations in Canada,” says Nobina Robinson, Chief Executive Officer of Polytechnics Canada. “These loans, complemented by many other supports the government has opened for trades trainees across Canada, will help to ease the risk faced by apprentices who have to resign from jobs to gain the next level of training and certification in their trade.”

For more information on the Canada Apprentice Loan program, visit www.pca-cal.ca.