Advanced Learner Loans

What you need to know ...

If you are aged 19 or over and studying at Level 3 or above you can apply for an Advanced Learning Loan, to help with the cost of your course. Loans are not dependent on your income and do not affect any benefits you may receive. It’s easy to apply and you will only start making repayments when your income is more than £404 per week; £1,750 per month or £21,000 per year.

I am eligible for a loan?

To qualify for the loan you must be:

// Aged 19 or over on the first day of your course (there’s no upper age-limit) and starting your course on or after 1 August 2016.

// Living in the UK on the first day of your course and have lived in the UK, the Channel Islands or the Isle of Man for three years immediately before this.

// Enrolling on an eligible course at Level 3 or above which includes: A levels, Access to HE Diplomas, other Diplomas and Certificates.

How much can I get?

Funding will depend on the type of course you wish to take. The minimum loan you can get is £300, however you don’t have to borrow the full fee amount; you can pay the remainder of the fee yoursel

How to Apply

To apply for an Advanced Learning Loan you can go online or download the form from the Student Loans Company. You’ll get a letter confirming your loan usually within 2 weeks if you apply online, however postal applications may take longer. You need to complete your loan application before you enrol.

Repayment

You’ll be due to start repaying your loan in the April after you leave or complete your course, whichever comes first.

You pay back your loan (plus interest) when you finish your course and are earning more than £404 per week; £1,750 per month or £21,000 per year. You pay interest from the time your first payment is made until you pay your loan back in full.

Your repayments will stop if your income drops below £21,000 a year. Your monthly repayment amount will be 9% of any income you earn over £21,000.

For more information visit: www.gov.uk/advanced-learner-loan or call: 0300 100 0619

Additional information

Advanced Learning Loans

Are you eligible?

advanced-learner-loan

This online tool can help you see if you are eligible for an Advanced Learner Loan.


Click here to see