0115 967 7771 info@webstraining.com Apprenticeship

24+ Learning Loans – The Key Facts

What is a 24+ Advanced Learning Loan?

The Government has introduced 24+ Advanced Learning Loans to help learners, aged 24 and over, who are considering undertaking a level 3 qualification or above to pay toward the cost of the course. Getting a Loan doesn’t depend on your household income and there’s no credit check. You won’t have to pay anything back until you’re earning over £21,000 a year. Once you earn over this amount you pay back 9% of the earnings you receive above this figure

What do the Repayments Look Like?

Your loan doesn’t have to be repaid until you earn more than £21,000 a year and repayments taken directly from your wage in the same way as tax. if income falls below £21,000 – such as a career break or unemployment – you only start repayments again when you earn over £21,000. Repayments don’t start until April 2016. An example of the repayments are given in the table below.

 

Annual income before tax Repayment amount
Up to £21,000 £0
£22,000 £7.50 per month
£25,000 £30 per month
£30,000 £67 per month
£35,000 £105 per month
£40,000 £142 per month








 

 

How will the loan be paid?

The money will be paid directly to your college or training organisation, once they’ve confirmed you’ve attended the course for 2 weeks.

Is there a maximum amount of Loan available?

The course fees of Webs courses eligible for the 24+ Advanced Learning Loans can be entirely covered by the loan amount you are able to take out. However, if you wish to take out a smaller amount (not less than £300) and fund the rest yourself, you are able to do this. 

Is 24+ Advanced Learning Loan available to adults with existing qualifications?

Yes, previous qualifications that learners have achieved do not affect their ability to apply for a Loan to gain new qualifications.

When do I need to apply for a loan?

Once you have applied and been accepted on your course, your college or training organisation will send you a Learning and Funding Information Letter. This will provide you with all the information you will need to apply for a loan. It is your responsibility to apply for the loan and you will not be able to start the course until it has been approved. We would advise that you apply for your loan as soon as you receive your Learning and Funding Information letter.

How do I know if I am eligible for a loan?

To get a loan you must be:

  • 24 or older on the first day of your course (there is no upper age limit).
  • Living in the UK on the first day of your course, and have lived in the UK, EU, the Channel islands or the Isle of Man for 3 years immediately before this.
  • Taking an eligible course that’s level 3 or above (such as Access to Higher Education, BTEC Level 3, A levels or a higher or advanced apprenticeship).
  • Studying at a college or training organisation in England approved for public funding.

How do I find out more? 

Please use the links listed below to find out more or call the Business Development Team at Webs on 01159 677771 or send an enquiry to info@webstraining.com:
 

www.gov.uk/advanced-learning-loans/how-to-claim

 



separator

LATEST NEWS

02 March 2017
Are you sitting comfortably?
 

Are you sitting comfortably?

During Apprenticeship Week Webs have arranged for students from schools across the county to visit furniture manufacturing employers for a tour of their premises where they will see the career opportunities the industry has to offer.

01 March 2017
The Governments Guide to Fire Safety Law
 

The Governments Guide to Fire Safety Law

You’re responsible for fire safety in business or other non-domestic premises if you’re: an employer, the owner, the landlord, an occupier or anyone else with control of the premises.

28 Feb 2017
Employers named and shamed
 

Employers named and shamed

More than 350 employers have been named and shamed as the government publishes the largest ever list of national minimum and living wage offenders.

23 Feb 2017
No Smoking but what about vaping?
 

No Smoking but what about vaping?

Avensure updates us on the latest

16 Feb 2017
10th annual National Apprenticeship Week
 

10th annual National Apprenticeship Week

The National Apprenticeship Service has announced that the 10th annual National Apprenticeship Week will be taking place from 6 to 10 March.

14 Feb 2017
Levy Employers encouraged to register for the new apprenticeship service
 

Levy Employers encouraged to register for the new apprenticeship service

The SFA are encouraging large employers to sign up and register for the apprenticeship service.

separator

ENQUIRY FORM

Please select your area of interest:

 

Thank you for contacting WEBS Training.

A member of our team will be in touch soon.

WEBS Training Ltd
The Poplars
Wollaton Road, Beeston
Nottingham. NG9 2PD


E: info@webstraining.com


T: 0115 9677771


F: 0115 9677772