Our fast facts about Advanced Learner Loans
Posted 28 October 2016
Having this information at your fingertips helps you decide if an Advanced Learner Loan is right for you – and how it can help you achieve your career goals.
Who can apply for a loan?
1. Advanced Learner Loans can be used to pay for approved courses at Level 3, 4, 5 and 6.
2. To be eligible you need to be aged 19 or above and a UK resident.
3. Advanced Learner Loans are government backed loans - they are not a bank loan and are administered by Student Finance England.
Do I need a credit check?
4. There’s no credit check. An Advanced Learner Loan doesn’t depend on your household income.
When do I need to pay the loan back?
5. When you're earning more than £21k a year and repayments are fixed at 9% of earnings. Use our repayment calculator to see what this looks like.
6. Your loan will be written off if you use an Advanced Learner Loan for an Access to Higher Education Diploma, once you’ve completed your Higher Education course. Something to bear in mind if you know you want to go on to University!
7. Any outstanding loan balance left after 30 years is automatically written off.
8. Applying for a loan is easy! Check out our courses, when you’ve found the right course for you, click Enrol, and then you can apply for your Advanced Learner Loan. We will give you all the information you need and guide you through the process!