Advanced Learner Loans are an alternative way for your employee to upskill and improve their chances of promotion if they do not meet the requirements for apprenticeship funding, however, they are responsible for the replayment of the loan. They are available for people over the age of 19 seeking to undertake qualifications at levels 3 to 6.
We have a range of Level 3, Level 4 and Level 5 courses, covering a number of sectors, that are available and funded through an Advanced Learner Loan.
Taking out an Advanced Learner Loan doesn’t depend on their household income and there’s no credit check. They won’t have to pay anything back until they are earning over £511 a week or £2,214 a month (before tax and other deductions). Once they earn over this amount they pay back 9% of the earnings they receive above this figure.
They may also be able to receive an Advanced Learner Loan Bursary Fund, which can help if they have any support needs, for example, if they need help with their learning, or help with childcare or residential costs.