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Have you heard about the Advanced Learner Loan?
If you’re aged 19 or over and want to study A Levels, an Access to Higher Education Diploma, or a Level 3 to 6 (Level 3 or 4 only if your course begins before 1 August 2016) Vocational Qualification, you’ll need to pay your college or training organisation for the cost of your course.
The Advanced Learner Loan is a government-funded loan to help learners. It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.
Find out more by visiting Money Advice Service
Key facts about loans
Repayments are linked to what you earn and not how much you borrowed.
You only have to start making repayments when you’ve finished your course and you’re earning over £21,000 a year (which is £404 a week or £1,750 a month). Until then you don’t need to pay back anything, but you can make voluntary repayments at any time.
You pay 9% of the money you earn over £21,000, before tax. For example, if you earn £22,000 a year,
Your monthly repayment will be £7 a month; and if you earn £35,000 a year, it will be £105 per month.
Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn.
For information and advice on learning, career and funding options, visit National Careers Service.
For more information on loans and to apply, visit
Advanced Learner Loan