Advanced Learner Loans
People aged 19 or over who take certain further education courses are eligible for government loans.
These loans help pay your college or training organisation for your course fees.
This guide aims to give you the information you need in order to decide if taking out a loan is the right choice
for you. If you’re considering studying, you might be surprised by how affordable it can be.
Eligible courses offered by South Cheshire College include:
Access to Higher Education Diploma
Vocational, technical and professional qualifications at levels 3 to 6
An Advanced Learner Loan isn’t like other loans because:
It doesn’t have to be paid back until you are earning more than £21,000 a year
It won’t affect your credit rating
Your existing credit rating will not be taken into account
Repayments are linked to how much you earn, not how much you borrow
The 9% rule
Let’s say you earn £22,000, that’s £1,000 more than £21,000. So you pay back 9% of £1,000 per year
9% of £1,000 = £90 a year = £7.50 a month
It doesn’t matter how much you borrow
The repayments are always worked out in the same way. If you earn £22,000 a year, it doesn’t make any
difference whether you borrowed £300 or £10,000, your repayments will still be £7.50 a month until you
have paid your loan off, unless your income changes.
The loan repayments are calculated on the basis that you pay back what you can reasonably afford, not on the basis of how much you borrowed.