24+ Advanced Learning Loan
How we can help:
- Check with your college or training provider that the course qualifies;
- Ask them for a ‘Learning and funding information’ letter - you need this to complete the application. It contains the details about your course;
- Prepare and submit your application form;
- You’ll get a letter confirming your loan - usually within 2 weeks if you apply online (postal applications take longer).
Who can apply:
You can apply for a 24+ Advanced Learning Loan to help with the costs of a college or training course if you’re 24 or older.
Whether you qualify for a 24+ Advanced Learning Loan depends on your:
- course (course must start between 1 August 2013 and 31 July 2015, and be a Level 3 or 4 qualification - eg A Levels);
- college or training provider (you must be studying at a college or training provider in England approved for public funding);
- age (you must be 24 or older on the first day of your course).
Nationality or residency status
You will qualify to obtain the loan if you:
- be living in the UK on the first day of your course
- have been living in the UK, Channel Islands or Isle of Man for 3 years before starting your course
- be a UK national or have ‘settled status’ (this means there’s no restrictions on how long you can stay)
You may also qualify if you’re:
- an EU national or a family member of one
- a refugee
- a migrant worker
- the child of a Swiss national
- the child of a Turkish worker
How much you get depends on the:
- type of course
- course fees
- the maximum loan available for your course
The minimum loan you can get is £300.
You don’t have to borrow the full cost of your course - you can pay for some of it yourself.
How the money is paid - The money is paid directly to your college or training provider.
How many loans can you get? - How many loans you can get depends on your course.
Non A Levels
You can get up to 4 loans, but:
- you can only get 1 loan at a time
- you can’t apply for another loan to repeat the same level of a course (eg you can’t get a loan to fund a Level 3 certificate in French when you’ve already had a loan for a Level 3 certificate in Italian)
For A Levels (including AS and A2 qualifications) you can apply for up to 4 loans at the same time - 1 for each A Level you take.
You can also get 3 more loans for non A Level courses.
What else you need to know
- You can’t apply until you get a ‘Learning and funding information’ letter from your college or training provider.
- Your course must start between 1 August 2013 and 31 July 2015.
- You can apply for a loan without a National Insurance number but you must have one before the loan can be paid.
- Repayments don’t start until April 2016.
- You pay back your loan (plus interest) when you finish your course and earn more than £21,000 a year. Your repayments will stop if your income drops below £21,000 a year.
- Your monthly repayment amount will be 9% of any income you earn over £21,000;
- The loan doesn’t depend on your income and there are no credit checks.
Your repayments would be:
- £7 a month - if you earned £22,000 a year
- £30 a month - if you earned £25,000 a year