19+ ADVANCED LEARNER LOAN

WHO QUALIFIES FOR THE LOAN?

The 19+ Advanced Learning Loan is not means-tested and does not require a credit check, but to be eligible for a loan you must be:

Aged 19 to 23 with prior level 3 qualification on the first day of your course
Aged 24 and over on the first day of your course
Starting a course on or after 1st August
Ordinarily a resident in the UK/EU/EFA for at least three years before the start date of your course
Enrolling on a full Level 3, repeat level 3 or Level 4 and Level 5 course
No repayments until you are earning over £25,000

HOW TO PAY BACK?

You do not have to pay any course fees up front
You pay back your loan (plus interest) when you have finished your course and start earning more than £25,000 a year
If your income drops below £25000 – loan repayments stop

Each month you pay back 9% of any income over £25,000. For example,
If you earn £28,000 a year £25,000 = £3,000
9% of £3,000 = £270
£270 /12 = £22.50
Your monthly repayments would be £22.50

HOW TO APPLY?

All applicants must complete:

Maths and English Initial Assessment
Information Advice and Guidance(IAG)
Learning and funding information letter: this will be provided to complete the application.