Advanced Learning Loans

Advanced Learning Loans have been introduced by the UK Government to allow learners aged 24 and over to access funded studying at Level 3, Level 4, Advanced and Higher Apprenticeships from 1st August 2013.

To be eligible for one of these loans you must:

• Be aged 24 or over at the start of your course
• Be undertaking an eligible course through an approved college or training provider in England.  Your college/training organisation can advise you on their approval status and confirm which courses are eligible if you wish
• Be living in the UK on the first day of you course
• Have been living in the UK, Channel Islands or Isle of Man for at least 3 years immediately before the start of your course
• Be a UK National or have “Settled Status” (i.e. there are no restrictions on how long you can stay in the UK).  Your college/training provider can also inform you of others ways you may qualify if you do not satisfy the conditions above
• Be able to produce forms of identification required during the application process, for example UK Nationals can use their valid UK Passport details
• Have a National Insurance Number – If you do not have an NI number you may still apply for a loan but may be contacted by Student Finance England should you be required to obtain one
  

Loan applications do not depend on your income or previous education history and no Credit Checks are carried out.
The loans themselves are used purely to cover the costs of the course and are paid directly to your college/provider:  Repayments (see below) are deducted automatically from your salary in a similar way to tax and National Insurance to ensure a hassle-free experience

Repayments of the loan are based on your income, and do not begin until:

• your annual income is above £21,000 per year (which is £404 per week or £1750 per month before UK tax)
• Repayments do not begin until the April after you complete the course (and not until April 2016)
• Repayments are simply calculated:  You pay back 9% of any income over £21,000; e.g. If you earn £25,000 your repayment will be 9% of the additional £4,000 monthly (approx. £30 per month)
• Click This link to access the Advanced Learning Loan repayment calculator which will allow you to easily estimate what your repayments are likely to be

  

The National Careers Service provide a number of very useful documents to help you fully understand Advanced Learning Loans and by clicking the link, you can read their page and download their Fact Sheet and FAQ (Frequently Asked Questions) pack.
This website also contains an Eligibility Checking Tool (to see if you qualify for an Advanced Learning Loan) and a link to the Money Advice Service website – We strongly recommend you visit both websites before making a final decision on whether you wish to apply for the Loan.


If you are happy to choose an Advanced Learning Loan, have an idea of the course you wish to undertake and are happy for Remit to support you in gaining your qualification, please contact our dedicated team atadvance24@remit.co.uk and someone will be in contact to further advise you.