If you're aged 19 or over and want to study A Levels, an Access to Higher Education Diploma, or a Level 3 to 6 vocational qualification, you'll need to pay Hadlow College for the cost of your course.
The Advanced Learner Loan is a government-funded loan to help learners. It's easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.
Here are some key facts about the loan:
- You only have to start making repayments when you’ve finished your course and you’re earning over £25,000 a year. Until then you don’t need to pay back anything, but you can make voluntary repayments at any time.
- Repayments are linked to what you earn and not how much you borrowed.
- Your annual repayment will be 9% of any income you earn over £25,000. For example, if you earn £27,000 a year, you will pay £15 a month. Or if you earn £30,000 you will pay back £37 a month.
- Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn.
For further information, contact email@example.com. Alternatively, please visit the Government website or the Money Advice Service website.