Advanced Learner Loan
If you are over 19, you might be entitled to support while you learn.You canapply for an Advanced Learner Loan to help with the costs of a course at a college or training provider in England. Loan eligibility does not depend on your income and there are no credit checks.
Eligibility
Repayments
Repayments start the April after you complete or withdraw from your course.
You pay back your loan plus interest when you finish your course and earn more than £25,000 a year. Your repayments will stop if your income drops below £25,000 a year.
Your annual repayment amount will be 9% of any income you earn over £25,000. You can make voluntary repayments if you want to pay off your loan more quickly.
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
Your employer will work out your repayments and take them out of your salary with your tax.
If you’re self-employed, you make repayments as part of your Self-Assessment tax return.
You can pay some or all of your loan at any time without an extra charge.
For detailed information on the Advanced Learner Loan,please visit the government website
https://www.gov.uk/advanced-learner-loan
To apply for an advanced learner loan, please visit the government website