Update: Advanced Learner Loan applications go live on Monday 15th May 2017
Latest News: Government Announcement for Advanced Learner Loans
In the latest Spending Review the government stated: 'The government will expand tuition fee loans to 19 to 23 year olds at levels 3 and 4, and 19+ year olds at levels 5 and 6 to provide a clear route for learners to develop high-level technical and professional skills.'*
This is positive news for learners aged 19+.
You can apply for an Advanced Learner Loan (formerly known as the 24+ Advanced Learning Loan) from May 2016 for courses starting on or after 1st August 2016.
Please note: Funding of loans for 19-23 year olds does not remove the entitlement for the first full Level 3 qualification to be free.
Thinking about studying for a Level 3 - Level 6 course with Bolton College?
Advanced Learner Loans* have been introduced to help you pay for some or all of your college tuition.
- You don’t pay back a penny until your income is over £21,000 a year.
- It’s easy to apply
- No credit checks and a low interest rate
- Your household income isn't taken into account
- Enhanced employability - fast-track your career!
- Earn, on average, 20% more**
Who can apply
To qualify for a loan you need to be:
- Starting a relevant course on or after 1 August 2016
- Aged 19 or over* at the start of your course
- Resident in the UK for the past 3 years
- A UK national or having "settled status" in the UK
You can still apply for a loan if you are unemployed.
How to apply
Before you apply, make sure that you understand the way the loans work and are happy with this. Advanced Learner Loans* aren't the only way to pay for your course - you may wish to fund your studies through alternative means, or to take out another form of finance with another provider. If you need advice on this, you can use the links at the bottom of the page to find out more about the loans and to access unbiased advice on finance.
Once you're confident that you understand the product and wish to proceed, you'll need confirmation of your course place before you apply. Details on how to apply will follow soon.
If you are unsure or need help and advice, please contact Student Services on 01204 482 182.
If you'd like to read more information on the subject before speaking to us, you might find the following link useful:
Money Advice Service for unbiased financial advice
The downloads below relate to the previous scheme. It is expected that the funding will be awarded on similar terms, but this is yet to be confirmed. Please use these documents as a guide only. New documents will be uploaded as soon as information becomes available.
*Subject to final Government confirmation
**There is an average 20% wage gain from possessing a Level 3 qualification. [Source www.bis.gov.uk]