24+ Advanced Learning Loans

From the 1st August 2013 the Skills Funding Agency will no longer fund learners over the age of 24 who want to study qualifications at level 3 and above.

If learners want to start a course after 1st August 2013 they will have to apply for a 24+ Advanced Learning Loan. These loans will help the learner to pay tuition fees charged by training providers like Qube Learning.

Key facts

  • Learners must be 24 or over on the first day of their course, starting on or after 1st August 2013
  • There is no upper age limit to qualify for a loan
  • Learners must live in the UKon the first day of your course and have lived in the UK, Channel Islands, or the Isle of Man for 3 years immediately before this
  • Learners must be studying with a training provider like Qube or college who has been approved for public funding
  • Learners must enrol onto an eligible course at level 3 and above which includes: Diplomas, Certificates, Advanced Apprenticeships or Higher Apprenticeships
  • Loans do not depend on the learners income and no credit checks are carried out
  • Learners can apply for a loan from April 2013 for courses starting from 1st August to 31st 2013 to July 2014
  • Learners will be able to take out a loan for the maximum amount to cover their tuition fees. The fees will be set on the Learner Aims Reference Application (LARA)(this means up to the funding value in 2013/14)
  • Each learner will be able to have up to 4 loans in total to help them progress in their studies
  • Learners will only start to make repayments when their income is more than £404 per week (£1,750 per month or £21,000 per year).

Example of payments

Income before tax Monthly Salary Monthly Repayment
Up to £21,000 £1,750 £0
£22,000 £1,833 £7
£25,000 £2,083 £30

Also

  • Any loan remaining after 30 years will be wiped out
  • Repayments will not start until April 2016 – voluntary payments can be made prior to this date
  • Learners who submit applications online that do not require supporting evidence should be processed in 4-5 days; all other applications should be processed in 2-4 weeks.

A full ‘Fees Policy’ is available on request.

If you require more information on this or any of our funded qualifications, please contact us by clicking here or by submitting your details on the ‘quick enquiry’ tab to the right.

 

Comments are closed.

Qube Learning Professional Bodies

Site Map