From August 2013, the way some courses are funded and paid for is changing.
The government is introducing a system whereby people pay for their courses and qualifications up front, with the option of taking out a loan if they need to and paying the money back at a later date. This system is for anyone* aged 24 and above who is thinking of studying at Level 3 and above, including Certificates and Diplomas, Access to HE courses, A-Levels and Advanced and Higher Apprenticeships.
These loans will give learners in further education access to financial support for tuition costs. This change means if an individual chooses to take out a loan they will not have to pay for their course or qualification in advance – the loan is only repaid once they have completed the course and are earning more than £21,000 a year.
At learndirect we will be offering courses which meet the loan criteria.
Further information will be published on our website in March.
- Are aged 24 and above at the start of their course (there is no upper age limit)
- Are resident in the UK
- Have previously not had a loan to do the same qualification type and level of qualification
- Are undertaking an eligible course at an approved college or training organisation in England
Loans will not be means-tested or subject to credit checks and any individual who meets the criteria above will be able to apply for a loan irrespective of their current employment status.
Note: learndirect is not regulated by the Financial Services Authority and does not offer any guidance, advice or recommendations as to the suitability of the 24+ Advanced Learning Loans in relation to an individual. It is important that individuals take into account their own circumstances and take appropriate advice from authorised organisations.
- You can access free independent financial advice from The Money Advice Service at www.moneyadviceservice.org.uk
- For further information on 24+ Advanced Learning Loans, including details on repayment and interest, go to www.gov.uk/24_advanced_learning_loans
- For more information about the courses and qualifications we offer please contact learndirect by registering your details here www.learndirect.co.uk/contact/ or call us on 0800 101 901.
*Who meets the eligibility criteria