Fund your qualification with an Advanced Learner Loan.
If you’re ambitious and want to earn more money in your career, or if you’re considering a career change, then an Advanced Learner Loan could be the key to unlocking your progression. Focusing on courses at Level 3 and above, these recognised qualifications show you are investing in your future and ready to move up the career ladder.
These loans are designed for adults that want to gain higher-level qualifications, which often lead to promotions or higher-paid jobs. Loan eligibility does not depend on your income, and there are no credit checks.
You only start to repay the advanced learner loan when earning over the repayment threshold. If you are earning less than this repayment threshold, there is nothing to pay.
The repayment threshold depends on what plan you are on.
- If you started your course between 1 September 2012 and 31 July 2023, you will be on Plan 2. The repayment threshold for Plan 2 is £27,295 per year (over £524 a week or over £2,274 a month).
- If you started your course on or after 1st August 2023, you will be on Plan 5. The repayment threshold for Plan 5 is £25,000 per year (over £480 a week or over £2,083 a month).
You will repay 9% of your income above the threshold.
You will be charged interest from the day you get the first payment of your loan.
Learner loan payments will automatically stop if your income goes below the payment threshold or you stop working.
Repayments are made through the Student Loans Company (SLC), and will start the April after you leave your course or the April 4 years after the course started (if studying part-time).
You can make extra repayments to pay the loan off early, there are no extra charges or penalties for this. Extra payments can be made through the online account or by direct debit. Repayments are normally taken from your salary.
Your loan amount will depend on:
- The type of course
- Course fees
- The maximum loan available for your course
The minimum loan you can get is £300, and it is paid directly to your college or training provider. You do not have to borrow the full cost of your course; you can pay for some of it yourself.
The loan is only designed to cover your course fees, and not your living costs.
Should you leave your course after two weeks, you will still be required to pay back a percentage of your loan, depending on the length of time you have been on the course.
Access to HE Diploma's can be funded through an Advanced Learner Loan. However, as these courses are designed to progress onto University, any outstanding balance on your Advanced Learner Loan will be 'wiped' upon completion of a higher education course - which means you do not need to repay the loan.
The higher education course must be eligible for student finance.
For example, if you take out an Advanced Learner Loan to study an Access to HE Diploma in Midwifery, once you complete your Midwifery degree, the balance of the Advanced Learner Loan for your Access to HE course would be cleared.