Advanced Learner Loans

 

Are you aged 19 or older and thinking about a college course in Beauty Therapy, Complementary Therapies, Nail Technology, Nail Services or Permanent Hair Removal and Skin Rejuvenation to further your career or change direction? You may qualify for an Advanced Learner Loan.

These loans help you to pay the fees charged by colleges and training organisations. Most learners aged 19 or older, studying at Level 3 to 6, will qualify for these loans from the UK Government. Loan eligibility does not depend on your income or that of your household and there are no credit checks. It’s easy to apply, and you won’t have to pay anything back until your income is over £25,000 a year

 

Do I qualify?

To qualify for an Advanced Learner Loan you must be:

  • Aged 19 or over on the first day of your course. There’s no upper age limit.
  • Living in the UK on the first day of your course and have lived in the UK, Channel Islands or the Isle of Man for three years immediately before this.
  • Studying with a college or training organisation in England approved for public funding.
  • Enrolling on an eligible course at Level 3 to 6. 

The loan will fund your college course at Level 3 and above. You can apply for up to 4 loans and you can get more than one at the same time. You can apply for another loan to take the same level of course, for example the same level qualification in Beauty Therapy Massage and Nail Technology.


Repaying your Advanced Learner Loan is straightforward

You’ll only repay your student loan when your income is over the threshold amount for your repayment plan. The threshold amounts change on 6 April every year.

The earliest you’ll start repaying is either:

  • The April after you leave your course.
  • The April 4 years after the course started, if you’re studying part-time.

Your repayments automatically stop if either:

  • You stop working.
  • Your income goes below the threshold.

If you have a Plan 1 student loan, you’ll only repay when your income is over £364 a week or £1,577 a month (approx. £19k per year before tax and other deductions).

If you have a Plan 2 student loan, you’ll only repay when your income is over £494 a week or £2,143 a month (approx. £25,700k per year before tax and other deductions).  

 

How much will you repay?

How much you repay depends on which plan you’re on. Each plan has a threshold for your weekly or monthly income. 

You repay:

·   9% of your earnings over the threshold for Plan 1 and 2.
·   6% of your earnings over the threshold for the Postgraduate Loan.

If you have a Plan 1 or 2 loan and a Postgraduate Loan, you’ll repay 15% of the amount you earn over the threshold.

You do not pay anything back if your income is under the threshold.

Interest starts being added to your loan from when you get your first payment.

 

 

What you need to know...

You cannot apply until you get a ‘learning and funding information letter’ from your college or training provider. You can apply for a loan without a National Insurance number but you must have one before the loan can be paid.

You still have to repay your student loan if you leave your course early. There’s no penalty for paying some or all of your loan off early.

If you’re a UK national, include your UK passport details in your application as proof of identity. If you do not have a UK passport (or it has expired), send your birth or adoption certificate using the ‘Birth or adoption certificate form’ (available online).

If you’re from an EU country, send your EU passport or identity card the first time you apply.

 


 

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