Funding Apprenticeships

One of the main advantages of an apprenticeship compared to college or university programs is that you have the opportunity to earn while you learn. Still, there are costs associated with becoming an apprentice.

There are a range of potential funding supports available for apprentices. As you work through your journey to apprenticeship with your employment counsellor, consider some of these sources of funding to help you along. Remember, this list may not be complete – your labour market research may also help you to find other sources of funding.

The Government of Ontario and the Government of Canada both provide a number of financial supports and incentives for apprentices and employers who are also their apprentice’s sponsor.

For Apprentices

Provincially Administered Incentives:

Apprenticeship Scholarship
The Apprenticeship Scholarship, available through Employment Service providers, provides up to $1,000 to support individuals who require academic upgrading to meet the eligibility requirements for their chosen trade.

Loans for Tools
The Loans for Tools program provides loans for apprentices to purchase essential tools or equipment for their training program.

Support for Non-EI Eligible Apprentices during In-School Training
This initiative provides up to $1,500 of taxable financial supports for apprentices who attend full-time in-school apprenticeship training and are not eligible for Employment Insurance (EI).

Apprenticeship Completion Bonus in Non-Red Seal Trades
This bonus is a taxable cash grant of $2,000 available to apprentices after they complete their apprenticeship training and obtain their C of A and, where applicable, their C of Q, in any Ontario non-Red Seal trade.

For more Information on these financial supports, visit the Employment Ontario website: http://www.tcu.gov.on.ca/eng/employmentontario/training/financial.html

 

Federally Administered Incentives:

Canada Apprenticeship Loan
Started in January 2015, apprentices in Red Seal trades can apply for up to $4,000 in interest-free loans per period of technical training to: help pay for tuition, tools, equipment and living expenses; cover forgone wages; or to help support their family.
www.pca-cal.ca/en/home

Apprenticeship Incentive Grant
The Apprenticeship Incentive Grant (AIG) is a taxable cash grant of $1,000 per year (up to a maximum of $2,000 per person) that is available to apprentices once they have completed their first or second level (or equivalent) of an apprenticeship program in a Red Seal trade.
www.servicecanada.gc.ca/eng/goc/apprenticeship/incentivegrant/program.shtml

Apprenticeship Completion Grant
The Apprenticeship Completion Grant is a one-time taxable cash grant of up to $2,000 available to registered apprentices who have successfully earned their C of Q in a designated Red Seal trade.
www.servicecanada.gc.ca/eng/goc/apprenticeship/completiongrant/program.shtml

 

For Employers

Apprenticeship Employer Signing Bonus
The $2,000 Apprenticeship Employer Signing Bonus is available to employers who hire, register, and train an apprentice as part of their participation in the Employment Service program.

Employer Completion Bonus
The Employer Completion Bonus is a $1000 taxable cash grant for employers for each apprentice they employ and train who completes their apprenticeship, receives a C of A and, where applicable, a C of Q.

Apprenticeship Training Tax Credit (for some trades)
The Apprenticeship Training Tax Credit (ATTC) is a refundable tax credit for corporations and unincorporated businesses employing apprentices in certain skilled trades during the first 36 months of an apprenticeship program.

For more Information on these financial supports, visit the Employment Ontario website: http://www.tcu.gov.on.ca/eng/employmentontario/training/financial.html

 

 

Source: The above information was sourced from an October 2016 Apprenticeship resource put together by the Ministry of Advanced Education and Skills Development (MAESD). The full pdf document can be found here: http://www.tcu.gov.on.ca/eng/eopg/publications/appr-resource-eo-sp-en.pdf

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