If you are aged 19 or over and thinking about studying a further education vocational, technical or professional course at Level 3, 4, 5 or 6 from September 2021, you may qualify for an Advanced Learner Loan to help you pay your course fees.
- You won’t have to pay any course fees up front.
- There’s no credit check and household income isn’t taken into account.
- There’s no upper age limit.
- Loan repayments are linked to what you earn when you have finished your course, not how much you borrowed.
- Interest rates are low.
- Loan repayments will be taken directly from your wage, so you won’t have to worry about making separate loan repayments.
- After 30 years, any remaining loan debt is wiped!
- Student Finance England will ‘write off’ any outstanding Advanced Learner Loan balances you owe for an Access to HE course once you complete a higher education course. This means you do not have to repay it. The higher education course must be eligible for student finance.
- Repayments for Advanced Learner Loans start the April after you complete or withdraw from your course.
- You pay back your loan (plus interest) when you finish your course and earn more than £25,725 a year. Your repayments will stop if your income drops below £25,725 a year.
- Your annual repayment amount will be 9% of any income you earn over £25,725.
- You pay interest from the time your first payment is made until you pay your loan back in full.
- Click here to see who qualifies.
NB: You’ll have to pay back any money that’s been paid to your college or training provider (plus interest) if you leave or change your course after 2 weeks or more. The interest rate will be the rate of inflation.
|While you’re studying and until the April after you leave the course||Rate of inflation (Retail Price Index) plus 3%|
|£25,725 or less||Rate of inflation|
|£25,725 to £46,305||Rate of inflation plus up to 3%|
|£46,305 and over||Rate of inflation plus 3%|
You must have been living in the UK for 3 years before starting your course and be a UK national or have ‘settled status’ to apply.
Access to Higher Education (HE) Diplomas & Advanced Learner Loans
Don’t forget if you take out a loan to complete an Access to HE course and then progress to and complete a Student Finance England funded degree/Higher Education course, the outstanding balance of your Loan will be written off!
Advanced Learner Loans Bursary Fund
This Bursary Fund is designed to help vulnerable students who have taken out an Advanced Learner Loan, such as those experiencing financial hardship, parents who may need help towards their childcare and those with learning difficulties or disabilities. All applications are assessed to find those students who are most in need of help. Application forms available by emailing firstname.lastname@example.org
If you’re unsure about taking out a loan, the Money Advice Service, established by the UK government, can offer free, impartial money advice.
It is your responsibility to thoroughly investigate whether you are eligible for financial support before you enrol. To receive student finance you must comply with nationality and residency conditions, age rules and previous study rules.
If you would like more information on financial support, please email Student Services or call us on 01772 643020 .