What is an Advanced Learner Loan (ALL) ?
An Advanced Learner Loan helps with the costs of further education courses. Advanced learner loans are available for individuals aged 19 or above to undertake approved qualifications at levels 3 to level 6, at an approved provider in England.
Advanced learner loans give individuals access to financial support for tuition costs similar to that available in higher education and are administered by Student Finance England.
Who is Eligible?
To be eligible to undertake an advanced learner loan, applicants must:
Be aged 19 or over on the first day of your course
Currently living in the UK
Have lived in the UK, the Channel Islands or the Isle of Man for 3 years immediately before this course
Want to undertake a Level 3, 4 or 5 course
Have a placement or employer in the sector
Eligibility for the loan doesn’t depend on a learner’s income and there are no credit checks.
So, What Courses are Available?
The table below details all the qualifications currently fundable with Quest under the advanced Learner Loan.
When you repay the loan
You do not pay anything back until your income is over the repayment threshold of £27,295 a year. You can choose to make extra repayments towards your loan. These are in addition to the repayments you must make when your income is over the threshold amount and are not compulsory.
A bit more information...
How much you get from the loan depends on the type of course you are completing, your course fees and the maximum loan available for your course. It only covers your course fees, not your living costs. The minimum loan you can get is £300 and it’s paid directly to your college or training provider.
You can apply for up to 4 loans and you can get more than one at the same time.
You do not have to borrow the full cost of your course - you can pay for some of it yourself.
Deciding between an Apprenticeship or Advanced Learner Loan
Here at Quest we offer both Apprenticeships and Advanced Learner Loans as routes into employment. Both have their own benefits and drawbacks, so sometimes it can be hard to choose which one is most suitable for you. To help you decide, we went through what each are, the advantages and disadvantages of each one and how they will help you progress in your career. Read our previous blog here
So, What Next?
It is very easy to apply, all you need to do is complete a simple contact form. If you would like any more information regarding Learner Loans or would like to speak to our Business Development team, please get in touch using the contact information below.
Telephone: 01474 704441
Email: info@questfortraining.com
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