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If your internship is pre-approved by the Career Launcher team in Step 1 of the application process, it will then take 3-4 weeks to complete the remaining three steps of the process. Note that applications are only reviewed when the deadline to apply has closed.
The 3-4 week timeline will depend on how long it takes for employers to recruit an eligible candidate. Funding is only confirmed once you have completed all four steps of the application process.