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Disbursement, Loan Maintenance and Repayment

Disbursement of Funds

After receiving confirmation of enrolment, funds will be disbursed directly to the eligible apprentices as early as the first day of their technical training.

Eligible apprentices can receive only one disbursement per technical training period:

Loan Maintenance

Registered apprentices are not required to make payments on their loan(s) and no interest will accrue if they:

If an apprentice does not confirm that he/she is still a registered apprentice in a Red Seal trade apprenticeship program by the apprenticeship end date, interest will begin to accrue on the loan and repayment will begin six months after this date.

The apprenticeship end date is 12 months following an apprentice's last funded technical training end date or the date his/her confirmation of ongoing registration was last confirmed.

Repayment

Repayment Assistance: The Government of Canada offers repayment assistance options that may assist borrowers who are experiencing financial difficulty in repayment through the Repayment Assistance Plan

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