Advanced Learner Loans
For affordable and accessible learning, a loan of this type may open the door. They can help people with diverse personal circumstances pursue their ambitions and attain their education dreams.
How it works
Advanced Learner Loans pay for fees for courses which are not covered by other funding sources. Learners pay back an affordable amount each month but not until the April AFTER their course finishes – and only when they are earning at least £21,000 a year.
Also available is an Advanced Learner Loans Bursary Fund which can help learners who have support needs, such as help with learning, childcare or residential costs. Learning Curve Group can advise on the details of this and how it operates.
To qualify for these loans, learners must be aged 19 or over on the first day of their course. Before applying they must have a ‘Learning and Funding Information Letter’, which contains course details, from Learning Curve Group.
It is important that those thinking of applying consider their personal circumstances and look in to all options for paying for the course before choosing to take out a loan.
The amount available depends on the course, course fee, and maximum amounts set by the Government. The minimum loan amount is £300.
Learning Curve Group will confirm the cost and the amount that can be covered by a loan before a learner enrols. A maximum of four Advanced Learner Loans can be taken for non A Level courses, but only one at a time and not for the same course.
The loan must be paid back, plus interest, if the learner leaves or changes their course after two weeks or more. The interest rate will be the rate of inflation.
For more information and to apply, visit gov.uk/advancedlearnerloans
Impartial advice on Advanced Learner Loans is available from the Money Advice Service at moneyadviceservice.org.uk
When do I repay the loan?
Currently if you do not earn over £21,000, you will never have to repay your loan. Once you start earning over this amount, then your repayments are dependent on your salary.
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