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24+ advanced learning loans - from Pathway Group, Birmingham


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24+ advanced learning loans - from Pathway Group, Birmingham

  1. 1. 24+ Advanced Learning LoansKey MessagesFurther education at Level 3 and above gives you the skills andknowledge that would aid in your personal development, increaseyour potential, and gives you the qualifications you need to progress inwork and life.It also provides evidence of your skills and knowledge to potentialemployers and improves your chances of getting the job that you want.For further
  2. 2. For further first time applicants, the 24+ advanced learning loan entitlementcovers your course fees – if you are studying or training at Level 3 or 4,and are over 24 years of age.The Advanced Learning Loan availability means that you can improveyour knowledge and skills without needing to pay the course feesupfront.GOOD NEWSRepayments dont startuntil April 2016 andyou wont have to payanything back untilyou earn more than£21,000 a year.
  3. 3. Your monthly repayment will be 9% of your wages above £21,000Annual income (before tax) Repayment amountUp to £21,000 £0 a month£22,000 £7 a month£25,000 £30 a month£30,000 £67 a monthIf your income falls below £21,000 (perhaps because of a careerbreak or due to unemployment) your Loan repayments will stopautomatically and will only start again when you are earning over£21,000 once more.Your Loan (or what’s left of it) will be written off: after 30 years; onyour retirement; at death (it doesn’t get passed on to relatives).If you take out an Advanced Learning Loan to study an Access toHigher Education Diploma course, it will be written off once youcomplete, the subsequent Higher Education Course.Interest on the Advanced Learning Loan will be lower than for a loanfrom a bankFor further
  4. 4. The Loan application process is straightforward.There is no means-testing or credit-rating check and, once your Loanapplication is approved, you won’t need to do anything else to pay thecourse fee or to arrange repayment later. It is all organised for youWant to know more about Advanced Learning Loans? 0121 707 0550Email: further