Getting a Loan

Can I get a Loan?
To be eligible for one of these loans you must:
– be aged 24 or over at the start of your course;
– be undertaking an eligible course at an approved college or training organisation in England.
(see below for more details on which type of courses are eligible. Your college or training organisation will be able to confirm exactly which courses are eligible and if they’re an approved organisation).
– be living in the UK on the first day of your course
– have been living in the UK, the Channel Islands or the Isle of Man for 3 years immediately before starting your course
– be a UK national or have ‘settled status’ (this means there’s no restrictions on how long you can stay). You may also be eligible if you:
– are an EU national or a family member of one
– are a refugee
– have humanitarian protection (as a result of a failed application for asylum)
– are a migrant worker
– are the child of a Swiss national
– are the child of a Turkish worker

Does getting a loan depend on my income or credit history?
No. Getting a loan doesn’t depend on your income and credit checks aren’t carried out. Repayments are based on your income and won’t begin until your income is over £404 a week, £1,750 a month or £21,000 a year.

Is there an upper age limit for someone applying for a loan?
No. There’s no upper age limit.

Which qualifications and Apprenticeship Frameworks can I get a loan for?
You’ll need to be doing a Level 3 or Level 4 qualification or an Advanced or Higher Apprenticeship which is approved for public funding. Level 3 and Level 4 qualifications include A Levels, Access to HE Diplomas and other Diplomas and Certificates. These loans don’t cover Degrees or other forms of Higher Education where separate student support arrangements exist.

Can I still apply for a loan for a qualification that’s not approved for public funding?
No. Only qualifications approved for public funding are eligible for loans. If you want to undertake a qualification that’s not eligible for a loan then you’d need to agree another method of funding the course with the college or training organisation.

If my Higher Apprenticeship has a Higher Education (HE) element in the framework, will I have the option to apply for an HE loan?
Yes. If your Higher Apprenticeship framework is made up of both FE and HE elements, you can apply for separate loans to cover both of these elements.

Will I be able to get a loan if I’ve already achieved a similar qualification (i.e. I already have A Levels)?
Yes. Previous qualifications you’ve achieved won’t affect your ability to apply for your first loan. However, once you’ve received a loan to undertake a course you won’t be able to take out another loan to do the same type of course at the same level. You’ll be able to take out further loans to complete different types or levels of eligible courses.

How many loans can I take out?
You can have up to a maximum of four 24+ Advanced Learning Loans in total. You can only take out one loan at a time for non A Level courses. If you have taken a loan to fund a course, you cannot take out a second loan to cover another course of the same type and level as the one you have already completed. Examples: If you want to undertake both a Level 3 Certificate and Level 4 Diploma at the same time, as part of your training to be an electrical engineer, you wouldn’t be able to take out a 24+ Advanced Learning Loan loan for both of these qualifications at the same time. If you take out a 24+ Advanced Learning Loan to do a Level 3 Certificate in Plumbing, on completion of this course, you could then take out a second loan to do a Level 4 Certificate in Plumbing, which would be a course of the same type but a different level. However, having undertaken a Level 3 Certificate in Plumbing you couldn’t take out a second 24+ Advanced Learning Loan to do a Level 3 Certificate in Construction, as this would be a course of the same type and level of qualification.

For A Levels it’s different. You can apply for up to four loans to cover the costs of your A Level Programme (this includes A Levels, AS and A2 qualifications). If you’re studying for more than one A Level qualification at the same time, you can apply for up to four loans at the same time – one for each A Level qualification. You can also get three more loans for non A Level courses at different times. You must complete a separate application for each loan.

For further guidance, click here or contact us.