1. 24+ Advanced Learning Loans A mini briefing for learners

2. Further education at Level 3 and above gives you the skills and knowledge that you need to develop professionally, increases your potential, and give you the qualifications you need to progress in life and work. It also provides evidence of your skills and knowledge to potential employers and improves your changes of getting the job that you want. Adapted from tagish.co.uk

3. You are entitled to an ‘Advanced Learning Loan’ to cover your course fees – if you are studying or training at Level 3 and you are aged at least 24 You don’t have to take out a Loan. But its availability means that you can improve your knowledge and skills without needing to pay the course fees upfront.

4. You will not have to pay back the Loan until you are earning over £21,000 a year. Interest on the Advanced Learning Loan will be lower than for a loan from a bank.

5. Your monthly repayment will be 9% of your wages above £21,000. Annual Income (before tax) Monthly Repayment amount Up to £21,000£0.00 £22,000£7.00 £25,000£30.00 £30,000£67.00

6. If your income falls below £21,000 … - perhaps because of a career break or due to unemployment – … your Loan repayments will stop automatically and will only start again when you are earning over £21,000 once more.

7. Your Loan (or what’s left of it) will be written off: After 30 years; On your retirement; At death (it does not get passed on to relatives)

8. The Loan application process is straightforward. There is no means-testing or credit-rating check and, once your Loan application is accepted, you will not need to do anything else to pay the course fee or to arrange repayment later. It is all organised for you

9. Want to know more about Advanced Learning Loans? Contact: Student Services Tel: 020 8270 4722 email: adultcollegeenquiries @lbbd.gov.uk Further information is also available at: https://www.moneyadviceservice.org.uk/en/art icles/loans-for-adults-in-further-education-and- training