Most apprenticeships are employer and/or government funded.
However, if you’re looking to finance a qualification yourself then an
ADVANCED LEARNER LOAN might be for you.
How Does An Advanced Learner Loan Work For Apprenticeships
If you’re over the age of 19 and want to self-fund an apprenticeship qualification then you can apply for an advanced learner loan which means you’re responsible for paying back the funding your training provider receives for delivering the training to you.
You will be asked to sign an agreement declaring your commitment to the course and the payments which is then submitted and a decision is made on the amount of loan you’ll be offered. Like a university student loan, regular payments will be deducted from your wages when you’re earning over £25,725 per annum.
Should you not complete the course you’ll only be required to pay back the period you were in learning.
Who is Eligible For An Advanced Leaner Loan?
- You must be aged 19 or over
- You must be a UK citizen or have the right to reside in the UK and have done so for the last 3 years
- As we are a work based training provider, you’ll need to be employed by a UK employer who is happy for you to attend training sessions in and out of the work place
- You must be looking to complete a Level 3 qualification or higher