24+ Learning Loans

Opening up Learning to all
The 24+ Advanced Learning Loan aims to open up opportunities for further study at levels 3 and 4 by providing a cost effective way of financing your training.
Students aged 24 or older can apply for an Advanced Learning Loan to help with the costs of their chosen training course.
To qualify for a loan you’ll need to be:
• Aged 24 or over at the start of your course
• A resident in the UK for 3 years prior to the start of the course
• Enrolling on a course at level 3 and above, such as: A levels, Access to HE Diplomas, other Diplomas and Certificates, Advanced Apprenticeships or Higher Apprenticeships
How much you can borrow
This will depend on the course you are doing, the cost of your course, and the maximum amounts set by the Government. The minimum loan amount is £300.
You can apply for a loan to cover all or part of the course fee or you can pay all or part of the fee yourself. The fee for some courses may exceed the loan amount available. There is no loan to cover living or maintenance expenses.
Once you have completed your course you will be eligible to apply for more 24+ Advanced Learning Loans to help you progress in your studies. You can apply up to a total of four loans.
How the loan is paid
Student Finance England (SFE) will pay your course fees directly to your training provider.
You will only start to repay the loan after you have completed your course and are earning over £404 per week, £1,750 per month or £21,000 per year.
You will only pay 9% of any income earned above £21,000 per year. You can find useful a useful table of examples as well as further information here.
Any loan remaining 30 years after you’re due to start making repayments will be written off.
Making the right choice
It is important that you consider your own circumstances and look into all options for paying your course before choosing to take out a loan. You can get impartial money advice from the Money Advice Service at www.moneyadviceservice.co.uk
24+ Advanced Learning Loans Fact sheets:
24+ Advanced Learning Loan Factsheet
A Quick Guide on Repayment
Frequently Asked Questions
What Employers Need to Know

Useful links:
Official website:
www.direct.gov.uk/advancedlearningloans
Impartial Money Advice:
www.moneyadviceservice.org.uk
Qualifications and careers information:
www.sthelenschamber.com/startingpoint