New Apprentice Loan from the Canadian Government

Completion of Apprenticeships Now Supported By a New Government Initiative

Apprenticeship GrantsThere has been considerable research and dialogue in recent history connected to some generally disturbing trends for apprenticeships in Canada.  Particular areas of concern have included a lack of emphasis on apprenticeships within both the workforce and the educational system, as well as a projected shortage of skilled tradespeople over the next 15 years and the impact of this deficiency on Canada’s economic competitiveness.

In addition to this rather distressing outlook, another disconcerting aspect relates to the present state of apprenticeships nationwide.  According to a recent Statistics Canada news release, although there are more than 350,000 people currently enrolled in 400+ apprenticeships and skilled trades programs across the country, it has been estimated that approximately half of these participants will not complete their programs.

There can be a number of reasons for this low completion rate, including such factors as:

  • Personal matters
    • An aversion towards studies and examinations
    • The lack of basic skills (math and literacy)
    • Financial/family demands on the apprentice
  • Employment-related aspects
    • Lack of sustainable work (leading to layoffs)
    • Limited time allocated to on-the-job-training
    • Outsourcing to self-employed sub-contractors
  • System-related issues
    • Inadequate mentorship services (numbers/training)
    • Inaccurate market data/forecasting of job opportunities
    • Potential workplace antagonism and age discrimination

However, the importance of apprenticeships cannot be neglected nor underestimated by our schools, employers, and/or governments, due to the fundamental role that these programs can and do play for the participants/trainees, specifically:

  • Making a smoother transition from school to the workforce
  • Providing opportunities to acquire real-life work experience
  • The development of sufficiently stronger skills/qualifications

From an industry perspective, an emphasis or perhaps re-emphasis on apprenticeships can provide the following long-term benefits for businesses and/or governments:

  • Investment in the future of individual companies or entire sectors
  • Addressing current/projected skills deficits in indispensable trades
  • Providing a driving force to grow and support the overall economy

In January 2015, in an effort to rectify the current and future states of apprenticeships within the country, the federal government introduced the new Canada Apprentice Loan.

The Canada Apprentice Loan is an initiative designed to assist those pursuing a career in the skilled trades to successfully complete their apprenticeships.  Individuals may now apply for federal funds, or a grant, in the form of an interest-free loan up to a maximum of $4,000, based on specific types of apprenticeships and other qualifying factors.  The specific allocation/disbursement of the loan consists of:

  • A $2,000 (max) incentive grant to help launch these apprenticeships
  • A $2,000 (max) completion grant to secure journeyperson certification

The Canada Apprentice Loan does not have to be repaid, and no interest will accumulate, until the individual completes the apprenticeship training or chooses to exit the program.  Applicants can utilize the financial support from this initiative in several ways, including:

  • To pay tuition fees/educational expenses
  • To cover travel costs and related expenses
  • Purchasing tools and other equipment
  • Supplementing lost or diminished wages
  • Additional funding for family living expenses

More thorough information on the criteria for a Canada Apprentice Loan is available at:
Government of Canada – Apprenticeship Grants

Capitalize on the Employment Services of a Leading Technical Staffing Agency

Individuals interested in apprenticeships/employment in the skilled trades can benefit from the services provided by an established technical staffing agency such as Winters Technical Staffing.

Winters Technical Staffing has been developing extensive working relationships with employers in Toronto and the GTA for more than 40 years and therefore has access to a wide range of opportunities for apprenticeships in many specialized fields of including:

  • Aerospace/avionics
  • Electronics
  • Engineering
  • Manufacturing/production
  • Supply chain

For more details on the areas of specialization and the employment services offered by Winters Technical Staffing, Click Here.

Contact Winters Today

To learn more about apprenticeships and the Canada Apprentice Loan initiative, call a specialist from Winters Technical Staffing today at 1-866-932-5248 or contact us to kick-start your career through the employment services of a leading staffing agency within Toronto and the GTA.

Summary
Article Name
New Apprentice Loan from the Canadian Government
Description
There has been considerable research and dialogue in recent history connected to some generally disturbing trends for apprenticeships in Canada. Particular areas of concern have included a lack of emphasis on apprenticeships within both the workforce and the educational system, as well as a projected shortage of skilled tradespeople over the next 15 years and the impact of this deficiency on Canada’s economic competitiveness.
Author

One Response

  1. Pablo
    Pablo December 25, 2015 at 11:10 pm | | Reply

    its really hlfuepl..now iam thinking to take a degree course..though iam not sure what is good enough for me..because iam thinking for the expenses ,,that was so expensive for me..iam a working student,,so its really nice to read this site..thanks to the author..

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