Lincolnshire Regional College
Lincolnshire Regional College
 
0800 389 0097 or info@lincsrc.co.uk
  • Information on the Advance Learning Loans at Lincolnshire Regional College

Advance Learning Loans

See below for information on the Advance Learning Loans at Lincolnshire Regional College.

If you are over 24 and thinking of studying for a Level 3 qualification in September 2017 you may be able to apply for an Advance Learning Loan to help you pay for your course.

The government is changing in the way in which all Level 3 courses are funded by introducing the Advance Learning Loan, which is available to students who are over 24, and studying one of the following:
  • A Level 3 or Level 4 course
  • An Access to HE course
  • An Advanced or Higher Apprenticeship
And are:
  • Aged 24 and over at the start of your course
  • A resident in the UK for 3 years prior to the start of the course
  • Never previously had a loan to do the same qualification type and level of qualification
The new loan system is easy to apply for and will allow you to study for an advance level qualification without any upfront tuition costs with the interest charged by the Government lower than a high street loan.

They're not means tested or credit checked and any individual who meets the criteria will be able to apply for a loan whether they're employed or unemployed.

Paying a loan back will be set at 9% of your earnings over £21,000, meaning if you earn over £21,000pa, you will pay back less than £10 per month and if your earnings are below £21,000 then you won't have to pay the loan back.

Younger learners and adults who are under 24 seeking to gain qualifications at Level 2 and below will continue to be funded by Government grants.

We haven't yet set our fees for our Level 3 and above courses. In the meantime if you have any questions, please do not hesitate to call our Learner Services on 0800 389 0097 or info@lincsrc.co.uk who will be able to help you.

You can find out more about Advance Learning Loans by visiting https://www.gov.uk/advanced-learning-loans

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