Career Training Loan payments are spread over three years to minimize up front costs. If the employee leaves the corporation within the repayment period and later defaults, the employee is responsible for the unpaid balance. The program also offers flexibility in the repayment period. There is no penalty for prepaying at any time. The program enables employees to pursue work-related education and training at a substantially lower cost.
Employees can use the CPP to pay for tuition and other eligible education-related expenses.
The Career Training Loan covers the total cost of your training, including money to help pay for education-related expenses, and approvals are usually granted within 24 hours. The actual APR may increase over time. All rights reserved.