19+Advanced Learning Loans
For those wishing to study a full diploma at Level 3 or above who are not eligible for an apprenticeship a 19+ loan is available.
There is no credit check and you won’t have to pay anything back until your income is over £21,000 a year.
To qualify you must:
- Be aged 19 or over
- Be living in The UK on the first day of your course
- Have lived in the UK, the Channel Islands or the Isle of Man for 3 years
- Be studying with a college or training provider in England, who is approved for public funding
- Be enrolling on an eligible course at level 3 or above, this includes diploma’s, certificates, advanced and higher apprenticeships
How much can I borrow?
- This depends on the course, you can borrow the full cost of the course or just part of the cost, the minimum you can borrow is £300.
How much will I pay back?
- You only start to pay back when you are earning more than £21,000
- Your repayments are based on your income not the amount you borrowed, so if you earn £22,000 you will pay back £7 per month, £25,000 you will pay back £30 per month and so on.
- If you stop working your repayments will stop until you are earning over £21,000 again.
How do you Apply?
- You can apply for a loan from April 2016 for courses starting after August 1st 2016.
- You can apply online or download an application form
- It is really important that you look at all the options before deciding how to pay for your course, as a training provider we cannot give you any financial advice and would suggest that you get independent financial advice from the money advise service at www.moneyadviceservice.org.uk
For more information:
Or you can Contact our Business Development Team for more information on 0151 336 6900 or email firstname.lastname@example.org