If you are aged 19 or over and want to study A levels, an Access to Higher Education Diploma, or a level 3 or 4 Certificate or Diploma, you will need to pay your college or training organisation for the cost of your course. There is now help at hand with the new 19+ Advanced Learning Loan Scheme, introduced by the government to help learners.
Our 19+ Learner Loans are available if you are aged 19 or above and are undertaking Level 3 or higher qualifications in areas such as Teaching and Quality Assurance, Leadership and Management and Business Administration.
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.