The Advanced Learner Loan is a student loan similar to degree study loans, but for the further education sector.
Loans are available to help you with the costs of studying a qualification from Level 3 up to Level 6. This does not affect your legal entitlement to full funding for your course if you are aged 19 to 23 and do not already hold a full Level 3 qualification or above. Those who already hold a Level 3 qualification or above and all those aged 24 and over will need to either self-fund or apply for a loan.
You can apply for a loan to pay the tuition fees towards your course, which will be paid directly to the college on your behalf.
Unlike a bank loan, your monthly repayment will be based on your income and repayments will then only start once you are earning over £25,725 per year. Repayments start at as little as £9 per month (based on an income of £27,000 per year before tax) meaning that this is a great way to access courses that previously, for financial reasons, may have been out of your reach.
Where do I apply?
Find more details or apply via the GOV.UK site.
Additional Financial Support
The Learner Support Fund (LSF)
The LSF is funded by the Skills Funding Agency (SFA) and is available for students over the age of 19 on the 31st August in the year of entry. The fund is prioritised for those who face financial hardship, and can be used to help with financial emergencies, travel costs, essential course equipment, materials, trips and childcare costs (for Ofsted registered childcare). For more details or to check whether you are eligible to receive the Learner Support Fund, call our friendly Student Finance Team on 01482 591404.