You are eligible for a loan if you are:
Please note if you are aged 19-23 and this is your first full level 3 course you are legally entitled to full funding and will not need to take out a loan.
2) Is the loan dependent on credit checks?
No. Getting a loan doesn’t depend on your income and no credit checks are carried out.
3) What qualifications can I get the 19+ Advanced Learning Loan for?
The loans will be available to cover the cost of the following qualifications:
No. There is no upper age limit, anyone can apply.
5) What information will I need to provide to apply for a loan?
You will need to provide details of:
You’ll also be expected to supply:
6) If my course lasts for more than 1 year, do I need to reapply each year?
No. The loan is for the full duration of your course.
7) What happens if I change my mind before my course?
If you decide prior to starting your course that you do not wish to undertake the course, or that you don’t want a loan to cover the course fees, you can contact Student Finance who will cancel your loan application with no repayments necessary.
8) What happens if I change my mind once I’ve started my course?
No loan payments will be made to the college until you have been studying for at least two weeks. If you leave the course after you have been there more than two weeks you’ll be liable to repay the loan payments that have been made to the provider on your behalf.
11) How do I repay the loan?
Repayments will be automatically deducted from your income through the tax system from the April after you complete or leave the course. Please note payments will only be deducted if your income is more than £21, 000 per year. Repayments will be 9% of your income once earning over £21, 000. So for example if you earn £25, 000 a year you would only pay back £30 a month.