24+ Advanced Learning Loans
No need to worry though – we’ve got it covered.
Learners will be able to apply for a loan from April 2013.
- Current students progressing within two year Level 3 and 4 programmes will remain under SFA funding (the original system).
- Anyone aged 24 and above, resident in the UK and studying a course at level 3 or 4 will be eligible for funding.
- The amount available to you as a loan is likely to cover 100% of costs for your course/s.
- Your loan will cover the cost of tuition, so you won’t have to pay upfront.
- Loans are not means tested or subject to credit checks
- The amount you receive depends on the type of course, course fees and the maximum loan available for your course
- The minimum loan you can receive is £300
- You will only be asked to make repayments on your loan once you complete your studies and you’re earning over £21,000 per year, at a rate of 9% of income.
- You can take out consecutive loans if you study a new qualification.
- If you subsequently take out a loan for higher education, your loans will be rolled into one, and only one monthly repayment will be made.
- If you progress to higher education after taking out a loan for an Access to HE diploma course, your 24+ Advanced Learning Loan balance will be written off, on completion of your higher education course.
Discretionary Learner Support Funds
The Discretionary Learner Support Funds provide financial support to students to
help them access further education.
The funds are prioritised for those who face financial hardship. They can be used to help with:
- Essential course - related equipment
- Childcare costs (Ofsted registered)
- Travel costs for over 19s
Finance for Part Time HE students
Financial help for lower income part time students are:
• Fee Grant - to help with tuition fees
• Course Grant - to help with cost of books, materials and travel
You will automatically qualify for the maximum help available if you are receiving certain benefits.
For further information on Financial assistance please Freephone 0800 092 6506 or visit www.direct.gov.uk/studentfinance