If you aged 19 or over and choose to study a Level 3 or 4 course, you may be entitled to apply for an Advanced Learning Loan, a national scheme to help with the costs of studying. You may also be eligible for a bursary.
The good news is that the loan is only repayable once you start earning over £25,000 per year and you are taking steps to invest in your future career earnings and development.
For more information you can:
You can apply for your Advanced Learner Loan on https://www.gov.uk/advanced-learner-loan or contact Learner Services for support in completing your application.
How much will I repay?
Repayment are based on your income, not on what you borrow or the number of student loans you have.
You’ll repay 9% of you income above £25,000 annual threshold. Even if you don’t earn £25,000 a year but exceed the thresholds of £480 a week or £2,083 a month at any point in the year (e.g. if you work overtime) then a loan deduction will be made
Example repayment amounts
|Income each year||Monthly income||Monthly repayment|
|Up to £25,000||£2,083||£0|