If you are 24 or over from the 1 September 2013 you may be eligible for an Advanced Learning Loan to meet the upfront course costs of your planned qualification.
The loans will be available for students who are 24 and over and studying one of the following:
- A Levels
- A Level 3 or Level 4 course
- An Access to HE course
- An Advanced or Higher Apprenticeship
To qualify for the loan you must be:
- aged 24 and over at the start of your course
- a resident in the UK for 3 years prior to the start of the course
- never previously had a loan to do the same qualification type and level of qualification.
Loans will not be means tested or subject to credit checks and any individual who meets the criteria above will be able to apply for a loan irrespective of their current employment status.
How to apply
You will be able to apply for an Advanced Learning Loan from April 2013 through the Student Loans Company website for courses that start from September 2013. The loan amount will be paid directly to the college on your behalf to meet the costs of the course fees.
Loans can vary from a minimum of £300 to the maximum linked to the course fee. For apprenticeships the learner and employer are expected to share the costs of the course, so the loan you would take out would only be for half the course cost.
Loan Application Form
Repaying the loan
You won’t have to pay anything back until you are earning over £21,000, and the loan will be written off after 30 years. Interest on the loan will be at the rate set by the Student Loans Company which will be lower than anything available from the high street.
If the loan is for an Access to Higher Education programme and you subsequently go on to complete a Higher Education course such as a HND, foundation degree or full honours degree, you won’t have to pay back your Advanced Learning Loan.
More information on Advanced Learning Loans is available from the following websites: