Advance Learner Loan Courses List 2021 -SheriyarTech

Advance Learner Loan Courses


I am going to providing you the list of 19+ Advance Learner Loan Courses. It is important to look at your circumstances and consider all the options for paying for your studies before choosing to take out a advanced learner loan. You can get private financial advice from the Advice Service at https://www.moneyadviceservice.org.uk/en


How much can you earn?

The minimum loan amount you can get is £ 300. The amount you will get depends on:


The type of course you are taking

How much is the tuition fee?

What Courses are relevant?

Level 3 or higher courses are eligible (such as Certificate / Diploma). Courses that are eligible for funding through advanced Student Loans are approved by the Skills Funding Agency. If you are unsure if the course you want to study is appropriate, please call us for more information.


Eligibility

To get a loan you must be:


19 or more on the first day you start your course

Staying in the UK on the first day of your studies, and living in the UK, Channel Islands or Isle of Man for 3 years before the first day of study

Studying at a college or training organization in England is allowed public funding

If you are 19 - 23 years old and do not have a full Level 3 degree, you will be entitled to a free education and you will not need to apply for an Advanced Learner Loan

If you are 19 - 23 years old and already have a full Level 3 degree, you can apply for an Advanced Learner Loan.

How many loans can I apply for?

You can apply for more than one study loan (up to 4 in total), You can also get a Advanced learner loan at the same level and type (eg 3 Diploma in Carpentry and 3 Diploma in Plumbing). You will be able to take out other loans to complete various types or levels of relevant courses.


How and when to Apply for Advanced Learner Loan?

Once you have applied for your course, you will receive a ‘Learner Information and Funding Information Letter’ within 5 working days. You will need this to apply for your loan. If you do not find this, please contact our Student Finance Team. We encourage you to plan and have your loan before enrolling to avoid paying a refundable deposit to secure your place in your course.


This is NOT a study assignment, you will need to discuss it with the curriculum in registration; but it does enable you to get a loan to register. Please check your tuition fees before applying for your loan.


You can apply for a loan from May 2020 for courses that start between 1 August 2020 and 31 July 2021. You can apply online or download the application form.


This will include all the details you will need to apply for a loan. You can complete your application online or download the app from gov.uk/advancedlearningloans. Applying online is a quick way to apply, but if you choose to apply for a paper please make sure you fill in all the details to ensure that your application is not unnecessarily delayed.


You will send your application to Student Finance England which will process the information and inform you and the college of your decision.


What you need to know

You will need a National Insurance number before the payments can be made and you must have this to submit your loan application form. You need your passport details or other form of identification to use - e.g. your birth certificate.

How to Get Advanced Learner Loan?

Student Finance England (SFE) will repay the loan directly to the college.


What happens if you withdraw from your study?

If you withdraw from your course within two weeks of the start date, the loan will not start working and you will not have to pay any fees. If you leave the course after more than two weeks then you will be liable to pay the college loan repayments on your behalf, for the time being.


Please note that you will also need to pay the remaining balance for your college education directly.


Repaying your loan

You pay off your loan (plus interest) when you graduate and start earning more than £ 25,725 a year. If your income goes below this amount your payment will stop. Each month you pay 9% of any income over £ 25,725.


See the table below for examples of what you will pay:

Income before taxMonthly salary before taxMonthly loan repayment
£25,725£2083£0
£27,000£2250£9
£30,000£2500£32
£35,000£2916£69
£40,000£3333£107

Any debt left over 30 years after you have to start paying will be written off. If you stop working, or your income drops below £ 25,725, your pay will stop and start again when your salary is more than £ 25,725 a year.


Does the loan earn interest?

Yes, the following table provides details on the interest charged on the loan

IncomeInterest Rate
While you’re studying and until the April after you leave the courseRate of inflation (Retail Price Index) plus 3%
£25,725 or lessRate of inflation
£25,725to £45,000Rate of inflation plus up to 3%
£45,000 and overRate of inflation plus 3%


Access to Higher Education (HE)

If you get a loan to pay for a Access to HE study (e.g. a course that will prepare you for Higher Education) and successfully complete a higher education course, you will not need to repay the remaining access to a scholarship.

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