Advanced Learner Loans

by | Jul 1, 2016 | TQ News

Are you aged 19 or over?

If you are aged 19 or over and want to study a Level 3 vocational qualification then you may qualify for an Advanced Learner Loan to help cover the cost of the course.

The Advanced Learner Loan is a government funded loan to help learners.  It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.

Here are some key facts about the loan:

  • You do not pay any course fees upfront
  • The amount of money you can borrow depends on your course. The minimum amount you can borrow is £300.
  • Repayments are linked to what you earn not how much you borrowed.
  • You will only have to start making repayments the April after you have completed your course and are earning over £21,000 a year. Until then you don’t need to pay back anything!
  • If your income drops below £21,000 the loan repayments stop.
  • Each month you pay back 9% of any income over £21,000. For example, if you earn £22,000 a year, your monthly repayment will be £7 a month.
  • You can make voluntary repayments at any time.

Here at TQ we offer the following courses that are eligible for the loan:

  • Business and Administration
  • Customer Service
  • Management
  • Health & Social Care

Please refer to the link below for further information about the loans and how to apply or simply get in touch.

Tel:  01788 892058

Email:  info@tqtraining.co.uk

www.gov.uk/advanced-learning-loans/overview

www.nationalcareersservice.direct.gov.uk

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