Trade Support Loan

Not strictly an investment per say but I’ve become eligible for a “Trade Support Loan” of up to $22,000 paid over the next 4 years of my apprenticeship. It works similarly to a HECS debt, I pay it off once I reach the wage threshold but with 0% interest. I also retain 20% of the loan if I complete my apprenticeship. It has a 6 month opt in/out and to me seems like a no brainer but a wise man once said there’s no such thing as a free lunch. Is there something I’m missing here in terms of potential risks, I’m just so sceptical when it comes to anything loan related. Would appreciate any advice, thanks!

Kieran Hannah

Asked on 2 August 2022

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