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Advanced Learner Loans 26th May 2016

If you aged 19 or over and choose to study a Level 3 or 4 course, you may be entitled to apply for an Advanced Learning Loan, a national scheme to help with the costs of studying. You may also be eligible for a bursary.

The good news is that the loan is only repayable once you start earning over £25,000 per year and you are taking steps to invest in your future career earnings and development.

For more information you can:

You can apply for your Advanced Learner Loan on https://www.gov.uk/advanced-learner-loan or contact Learner Services for support in completing your application.

How much will I repay?

Repayment are based on your income, not on what you borrow or the number of student loans you have.

You’ll repay 9% of you income above £25,000 annual threshold.  Even if you don’t earn £25,000 a year but exceed the thresholds of £480 a week or £2,083 a month at any point in the year (e.g. if you work overtime) then a loan deduction will be made

Example repayment amounts

Income each year Monthly income Monthly repayment
Up to £25,000 £2,083 £0
£27,000 £2,250 £15
£29,500 £2,458 £33
£31,000 £2,583 £45
£33,000 £2,750 £60
£35,000 £2,917 £75

 

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