Advanced Learner Loan
What is an Advanced Learner Loan
An Advanced Learner Loan is funding, which will cover or help to cover the cost of your course (Tuition, examination and registration fees). Loans are not credit checked or means tested, so you can apply whether you are unemployed or employed. You just need to meet the following eligibility criteria:
· Aged 19 or over on the first day of your course
· A resident in the UK for 3 years prior to the start of the course
· A UK national or have ‘settled status’
· Enrolling on a course at Level 3 and above, which is designated for Advanced Learner
You can check your eligibility by visiting http://media.slc.co.uk/sfe/allEligibility/index.html
How Do I Apply?
Or by post – https://www.gov.uk/advanced-learner-loan/how-to-apply
You will need the following for your application
· A Learning and Funding Information letter (from your training provider)
· Your National Insurance number
· Proof of identity (e.g. passport or birth certificate
You’ll get a letter confirming your loan - usually within 2 weeks if you apply online (postal applications take longer)
How Much Will My Repayments Be?
You start paying back your loan in the April after you finish your course, but only if you earn more than £25,000 a year. Repayments are calculated as follows
· Deduct £25,000 from your annual salary before tax
· Work out 9% of the remainder
· Divide that figure by 12
· Round this down to the nearest pound
For example, your monthly repayments would be
· £15 a month if you earned £27,000 a year
· £37 a month if you earned £30,000 a year
Where Can I Find More Information On Studiying For An Advanced Learner Loan Course With Pathway Group?
If you are considering taking out an Advanced Learner Loan to fund a course with Pathway Group, please read our Advanced Learning Loans Student Induction Booklet
If you have any queries, please e-mail us (firstname.lastname@example.org) or call us (0121 707 0550).