Fund your qualification with a learner loan
With nothing to pay until you earn over £27k a year
If you are not eligible for a free course through government funding, you can still gain a qualification to further your career with the help of an advanced learner loan.
These loans are designed for adults that want to gain higher level qualifications, which often lead to promotions or higher paid jobs. When you start to earn over £27,295 per year, the loan starts to be repaid, usually being taken directly from your salary.
Why take out 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.
Many employers recognise these qualifications and reward their employees with more responsibility and better progression routes. This is why you only start repaying the loan when you earn above the threshold.
When do I repay the learner loan?
You only start to repay the advanced learner loan when earning over £27,295 per year (over £524 a week or over £2,274 a month). If you are earning less than this repayment threshold, there is nothing to pay.
Advanced Learner Loans are classed as Plan 2 student loans by the government and the threshold is reviewed on 6th April each year.
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).
Learner loan payments will automatically stop if your income goes below the payment threshold or you stop working.
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.