Paying for your qualification might be easier than you think. There are multiple funding options available depending on your personal circumstances.
If you are aged 19–23 and this is your first full Level 3 qualification, you will be entitled to full funding to cover all of your tuition fees at no cost to you.
If you are aged 19–23 and have already achieved a full Level 3 qualification, or are aged 24 and over, you could be eligible for a loan.
19+ Advanced Learner Loans are not means tested or dependent on credit checks. When you progress and complete an eligible university level course, the 19+ Advanced Learner Loan is completely wiped meaning you will only have to pay back your university student loan.
After you’ve finished your qualification, you will only start repaying your loan when you earn over £524 a week or £2,274 a month (before tax and other deductions).
Repayments will be 9% of your earnings over that threshold.
Example monthly 19+ Advanced Learner Loan repayments:
Your annual income is £28,800 and you are paid a regular monthly wage. This means that each month your income is £2,400 (£28,800 divided by 12). This is over the monthly threshold of £2,274.
Your income is £126 over the threshold (£2,400 minus £2,274). You will pay back £11 (9% of £126) each month.