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24+ Advanced Learning Loans

24+ Advanced Learning Loans

24plus

You can apply for a 24+ Advanced Learning Loan to help with the costs of a course at a college or training provider if you’re 24 or older. The course must be an eligible Level 3 or 4 courses, eg A Levels; you’ll have to pay your loan back when both the following apply:

  • You’ve finished your course
  • You earn more than £21,000 a year

Loan eligibility doesn’t depend on your income and there are no credit checks. You can get independent money advice from the Money Advice Service. Click here for more information.

Key Information

  • When applying for a 24+ Advanced Learning Loan, there is no credit check and household income isn’t taken into account.
  • Loan repayments are linked to what you earn when you’ve finished your course, not how much you borrowed.
  • You only need to start paying back your 24+ Advanced Learning Loan when you’ve finished your course and you’re earning more than £21,000 a year.
  • You pay back 9% of the money you earn over £21,000.
  • If you want to make voluntary repayments, you can do so at any time.
  • Loan repayments will be taken directly from your wage through the tax system from April 2016.

Other Information

You may also be eligible for money from the 24+ Advanced Learning Loan Bursary Fund if you need help with your learning or living costs – eg childcare or accommodation expenses.

You need to apply to your college or training provider directly for the Bursary Fund. You can apply as soon as you’ve received a letter confirming your 24+ Advanced Learning Loan.

Read more about the 24+ Advanced Learning Loan Bursary Fund >

For more information or to enquire click here