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Media Centre$106 MILLION FOR TRADE LEARNING SCHOLARSHIPS10 May 2005 MINBUD 08/05 Minister for Vocational and Technical Education, Gary Hardgrave today announced the Australian Government will provide $106.3 million over four years for scholarships to help New Apprentices in their first years of training in a trade experiencing skills needs. Mr Hardgrave said the funding will provide a $1,000 tax free scholarship for eligible people undertaking a New Apprenticeship in a skills needs trade, paid in two $500 instalments at the end of each successfully completed first and second years. "The scholarships, available from 1 July 2005 through the Commonwealth Trade Learning Scholarships, will ease the financial burden faced by New Apprentices in their first years of training," Mr Hardgrave said. "The Australian Government provides significant support for New Apprentices through employer incentives already. In 2005-06, the Government expects to spend $554.5 million in employer incentives. "This significant investment in scholarships, matched with the Government’s demonstrated support through employer incentives, strengthens efforts to address the current skills needs in some of our key traditional trades." The scholarship will be available to all New Apprentices in specific traditional trade occupations at the Certificate III or IV level. Also, New Apprentices must be employed in a small or medium sized business of 500 or fewer employees. New Apprentices employed by Group Training Organisations that comply with National Standards will also be eligible for the scholarship. "This initiative will assist around 30,000 first year New Apprentices in 2005-06 and around 60,000 first and second year New Apprentices in 2006-07," Mr Hardgrave said. "For employers, the scholarships will reduce the number of New Apprentices dropping out due to financial hardship and provide a great incentive for New Apprentices to continue their training through to completion."
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