Funding released to continue no-interest loan program
A NATIONAL no-interest loan program for struggling Australians will keep operating for another five years, after the Abbott government released $64million.
Social Services Minister Scott Morrison confirmed the funding would be released from July this year to help welfare recipients get work.
The funds will go towards low interest loans and micro-finance for people on low incomes to help cover study and training costs and get financial literacy courses.
It will be delivered by Good Shepherd Microfinance and the National Australia Bank through about 700 outlets in capital cities and regional towns.