Advanced Learner Loans
If you are aged 19+ and considering enrolling on a further education course at Level 3 or above you may be entitled to an Advanced Learner Loan to help with course fees.
From 14th May you can apply for a loan for courses starting on or after 1st August 2018, it’s easy to apply online and repayments are simple. Your household income isn’t taken into account and there are NO credit checks involved. Apply now.
You must be aged 19 or over on the first day of your course and, in most cases, have lived in the UK for the 3 years immediately before this and be enrolling on to an eligible course. If you would like more information on eligibility please contact us or details can be found at www.gov.uk/advanced-learner-loan/eligibility
You pay back your loan (plus interest) when you finish your course and earn more than £25,000 a year, or £480 a week or £2083 a month. So repayments will stop and start in line with these thresholds.
Repayment calculations are simple and any balance outstanding is written off after 30 years.
Want to work out your potential monthly repayment?
Example: On a salary of £27,000
- Subtract £25,000 from the annual salary (£27,000 - £25,000 = £2000)
- Work out 9% of the remainder (9% of £2000 = £180)
- Divide the figure by 12 (£180/12 = £15)
- The monthly repayment would be £15 per month
You don’t have to borrow the full cost of your course and you can choose to pay some or your entire loan at any time without any extra charge.
If you get a loan to cover tuition fees for an Access to HE course and go on to successfully complete a course in Higher Education your loan will be written off in most cases.