Fees and FINANCE

To apply for an Advanced Learner Loan you must be:

·         19 or over on the first day of your course
·         Enrolling on a course at Level 3, 4, 5 or 6 including vocational qualifications (eg BTECs or NVQs),
          A levels and Access to Higher Education Diplomas
·         A resident in the UK for three years before the start of the course. (Visit www.gov.uk/advanced-learner-loan for exact residency requirements)

The Advanced Learner Loan does not cover Higher Education courses. To find out about loans available for Higher Education study, visit www.gov.uk/student-finance.

Applying for the Advanced Learner Loan is easy. You just need to:

·         Obtain a ‘Learning and Funding Information Letter’. (We give you this when you’ve been accepted
          on to your course or you get one from our Student Services)
·         Apply online at www.gov.uk/advanced-learner-loan
·         Your loan should be confirmed within two weeks of applying

We recommend that you apply as early as possible because you need to show evidence that your loan application has been approved when you enrol for your course. If you can’t provide this evidence, you will need to pay 20% of your tuition fees and sign up to a payment plan at enrolment.

You can borrow any amount from £300 up to the full tuition fee for your course.
How much you borrow will depend on your own circumstances. You can get impartial money advice at www.moneyadviceservice.org.uk.

·         You only start paying back the loan (plus interest) when you’re earning £21,000 a year or more
·         You will pay 9% of any income you earn over £21,000 (eg if you earn £25,000 a year, your monthly
          repayments would be £30)
·         If you go on to work for a company, your repayments will be taken out of your salary with your tax
·         If you become self-employed, you will need to make repayments as part of your Self Assessment
          tax return
·         If you stop working, your repayments will stop, and only start again when your income is more than
          £21,000 a year
·         If you take out a loan for an Access to HE course and go on to achieve a Higher Education
          qualification, your loan will be written off altogether – regardless of how much you go on to earn
·         All Advanced Learner Loans are written off after 30 years