If you’re planning to study at Level 3 to 6 you may qualify for an Advanced Learner Loan. These loans help you to pay the fees charged by approved colleges and training organisations in England.WHAT LEARNERS NEED TO KNOW
* You need to pay course fees if you are 19 or over and wish to study for a qualification at Level 3 to 6.
* You may be eligible for a government-backed Advanced Learner Loan to pay for your course fee.
* The amount of money you can borrow depends on your course. The minimum amount you can borrow is £300.
* When applying for an Advanced Learner Loan there is no credit check and household income is not taken into account.
* Loan repayments are linked to what you earn when you’ve finished your course, not how much you borrowed.
* You only need to start paying back your Advanced Learner Loan when you are earning more than £21,000 per year. This works out at £404 a week and £1,750 a month. You pay back 9% of the money you earn over £21,000.
* If you’re employed, loan repayments will be taken directly from your salary through the tax system.
* You can make voluntary repayments at any time.
* Before taking out any loan you should consider all of your options. If you want advice on managing your finances, visit the Money Advice Service at http://www.moneyadviceservice.org.uk
for impartial advice.
For information and advice on learning, career and funding options, visit http://www.nationalcareerservice.direct.gov.uk
For more information on loans and to apply, visit http://www.gov.uk/advancedlearnerloan
Tip: search for ‘funding’ on the National Careers Service website.