Advanced Learning Loans

About Advanced Learning Loans

Strode's College is an approved centre to offer Advanced Learning Loans. Government loans are available for people who are aged 19 and over and studying an eligible Level 3 or 4 course (courses are marked in 19 plus this prospectus).

✔ The loans are not means tested and don't take into account a person's credit history, which means most people will be eligible.

✔ You must be a UK or EU/EAA resident aged 19 or over and have lived in the UK for three years prior to the course start date.

✔ Small affordable repayments when you are earning over £21,000 a year.

✔ If you want to pay for your Level 3 or 4 19 plus course with an Advanced Learning Loan, please complete an enrolment form to enrol as normal but inform a member of the Adult Learning Team at the time of enrolment. We will send you a confirmation letter with full details on how to apply.


Before taking out any loans you should consider all your options and may want to seek impartial financial advice. Visit the Advanced Learner Loan website for more information: https://www.gov.uk/advanced-learner-loan/overview

How can I apply?

  • Enrol for a place on your chosen course
  • Follow normal application/interview procedure to confirm and check suitability and acceptance onto the course
  • You will receive a Learner Information Letter
  • Use this Learner Information Letter to apply for your Finance
  • Let the College know that you have applied for finance
  • If you are approved and have not heard otherwise from the college, then just turn up on the first day of your course
  • If you are not approved, don't worry, talk to the college for other methods/arrangement of payment

What qualifications are eligible for a loan?

You will need to be doing a Level 3 or Level 4 qualification which is approved for public funding.

Eligible qualifications include:

  • AAT Advanced Diploma in Accounting Level 3
  • AAT Professional Diploma in Accounting Level 4
  • Counselling Certificate Level 3
  • Diploma in Therapeutic Counselling Level 4
  • Level 4 Certificate in Education and Training (previously CTLLS)
  • Level 3 Certificate in Supporting Teaching and Learning in Schools

How much can I borrow?

- The minimum amount is £300 per application.

- The government sets the maximum amounts for each course. We will advise you of this value when you decide to make an application.

- You can apply for anything from the minimum to maximum loan amount, however you must ensure that you are able to pay the remainder of any balance to the college yourself.

- You can have up to a maximum of four 24+ Advanced Learning Loans in total for A Level programmes.

- You can only take out one loan at a time for non A Level courses.

Repayment

- Repayment of your loan is based on your earnings after you complete the course.

- They will be automatically deducted from your income through the tax system from the April after you complete or leave the course.

- Repayments are based on income and not on the amount borrowed

- You can also make voluntary payments to repay the money earlier.

- Repayments will not commence until you are earning more than £21,000 per year and start from as little as £7 per month.

- You only pay back 9% of any income above £21,000.

- If you leave the course early, you are only liable to pay for the time that you are in attendance at the college. Any remaining balance will be removed from your loan total.

- If you want to see how much you would have to repay, click here to visit the Loan Repayment Calculator 

The table below shows examples of what you’ll repay:

Income Each Year Before Tax

Monthly Salary

Monthly Repayment

Up to £21,000

£1,750

£0

£22,000

£1,833

£7

£25,000

£2,083

£30

£30,000

£2,500

£67

£35,000

£2,917

£105

£40,000

£3,333

£142

Think…

- Before taking out any loan, you should consider all your options. If you want advice on managing your finances, you can get impartial money advice from the Money Advice Service at moneyadviceservice.org.uk

- For information and advice on learning, career and funding options, visit nationalcareersservice.direct.gov.uk/advancedlearningloans

- For more information on loans and to apply, visit gov.uk/advancedlearningloans or click here for the ‘Quick Guide to Applying’