Advanced Learner Loan
If you’re aged 19 or over and thinking about returning to education, you may qualify for an Advanced Learner Loan. These loans help you to pay the fees charged by colleges and training organisations.
Most learners aged 19 and over studying at Level 3 to 6, will qualify for these loans from the UK government. It’s easy to apply, your household income isn’t taken into account and there’s no credit check. You won’t have to pay anything back until your income is over £21,000 a year. want to study an Access to Higher Education Diploma, or a Level 3 to 6 (Level 3 or 4 only if your course begins before 1 August 2016) Vocational Qualification, you’ll need to pay your college or training organisation for the cost of your course.
The Advanced Learner Loan is a government-funded loan to help learners. It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.
Here are some key facts about the loan:
Repayments are linked to what you earn and not how much you borrowed.
You only have to start making repayments when you’ve finished your course and you’re earning over £21,000 a year (which is £404 a week or £1,750 a month). Until then you don’t need to pay back anything, but you can make voluntary repayments at any time.
You pay 9% of the money you earn over £21,000, before tax. For example, if you earn £22,000 a year, your monthly repayment will be £7 a month; and if you earn £35,000 a year, it will be £105 per month.
Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn.
Learner Support Fund
Learner Support Funds are available to assist students who are:
Over the age of 19 studying up to and including a Level 2 course
Aged 19-23 studying on a Level 3 or 4 course
Learner Support Funds can contribute towards any of the costs associated with your studies, including childcare, college meals, exam fees, course books and materials and in some cases, travel. There is a limited amount of funding available for tuition fees.
Your application to the fund will be means tested and proof of household income will be required. Please contact us below for further information.
Students under 20 years old can get financial help with their childcare costs from Care to Learn. Care to Learn will pay for:
Childcare costs while you learn
A deposit if one is charged
Travel expenses to and from your child care provider
For further information, please contact the Helpzone Team at South Devon College, on firstname.lastname@example.org or Freephone 08000 380 123.