Advanced Learner Loans

Advanced Learner Loans

These loans give learners in further education access to financial support for tuition costs.

The government has introduced a system whereby people pay for their courses and qualifications up front, with the option of taking out a loan if they need to and paying the money back at a later date.

This system is for anyone aged 19 and above who meets the eligibility criteria below and is thinking of studying at Level 3, 4, 5 or 6 qualification.

Have you heard about the Advanced Learner Loan?

If you’re aged 19 or over and want to study A Levels, an Access to Higher Education Diploma, or a Level 3 to 6 (Level 3 or 4 only if your course begins before 1 August 2016) Vocational Qualification, you’ll need to pay your college or training organisation for the cost of your course.

The Advanced Learner Loan is a government-funded loan to help learners. It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.

Here are some key facts about the loan:

  • Repayments are linked to what you earn and not how much you borrowed.
  • You only have to start making repayments when you’ve finished your course and you’re earning over £21,000 a year (which is £404 a week or £1,750 a month). Until then you don’t need to pay back anything.
  • When applying for an Advanced Learning Loan, there is no credit check and household income isn’t taken into account.
  • If you want to make voluntary repayments, you can do so at any time.
  • Loan repayments will be taken directly from your wage through the tax system.
  • You may be able to get financial support for living expenses, this depends on where you live and your household income.
  • You pay 9% of the money you earn over £21,000, before tax. For example, if you earn £22,000 a year, your monthly repayment will be £7 a month; and if you earn £35,000 a year, it will be £105 per month.
  • Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn.

Active IQ

  • Level 3 Certificate in Personal Training (QCF)
  • Level 3 NVQ Diploma in Personal Training (QCF)
  • Level 3 Diploma In Fitness Instructing and Personal Training (QCF)
  • Level 3 Diploma In Personal Training and Business Skills for Fitness Professionals (QCF)
  • Level 4 Certificate In Physical Activity and Lifestyle Strategies for Managing Low Back Pain (QCF)
  • Level 4 Certificate In Physical Activity and Weight Management for Obese and Diabetic Clients (QCF)

AAT

  • Professional Diploma in Accounting – Level 4
  • Advanced Diploma in Accounting – Level 3
  • Advanced Certificate in Bookkeeping – Level 3

CMI

  • Level 3 Certificate in Personal Training (QCF)
  • Level 5 Extended Diploma in Management and Leadership (QCF)
  • Level 5 Diploma in Management and Leadership (QCF)
  • Level 5 NVQ Diploma in Management and Leadership (QCF)

CIPS

  • Level 4 Diploma in Procurement and Supply

PLEASE ACCESS THE REPAYMENT CALCULATOR HERE

Our advisors are here to help.
Call us now on 01482 222463

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What They Say About Us…

Accessing my Learner Loan to complete my Level 3 Certificate In Assessing Vocational Achievement (QCF) has helped me progress my career. Being self-employed this allows me to gain more work and in an area I enjoy. The learner loan allowed me to gain the qualification, start working and now be in a position to repay, I couldn’t have done this without the financial support.

Luke Dunham
Hull

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