24+ Advanced Learning Loan

The Government has introduced 24+ Advanced Learning Loans to help learners aged 24 and over, in further education, pay a college’s or training organisation’s fee.

Getting a Loan doesn’t depend on your household income and there’s no credit check. You won’t have to pay anything back until you’re earning over £21,000 a year. Once you earn over £21,000 a year you’ll pay back 9% of the earnings you’ll receive above this amount.

24+ Advanced Learning Loans can entirely cover the fees of The Career Exchange courses. However, if you wish to take out a smaller amount (not less than £300) and fund the rest yourself, you are able to do this.

To be eligible for the loan you must be:

  • 24 or older on the first day of your course (there’s no upper age limit)
  • Living in the UK on the first day of your course, and have lived in the UK, the Channel Islands or the Isle of Man for 3 years immediately before this starting your course on or after 1 August 2013
  • No upper age limit in order to apply for a 24+ Advanced Learning Loan.

Yes, previous qualifications that learners have achieved do not affect their ability to apply for a Loan to gain new qualifications.

This depends on how much you earn, click on the link to the repayment calculator below to see how monthly payments relate to earnings.

How much it costs
Income Repayment
While you're studying and until the April after you leave the course £0 a month
£21,000 or less £0 a month
£21,000 to £30,000 £0 to £67 a month
£31,000 to £40,000 £75 to £142 a month

REMEMBER: loan repayments only start when you are earning over £21,000 per year. Repayments won’t start for any course until April 2016, but you can make voluntary repayments before then.

East Midlands £19,000
London £18,000
North West £17,000
Yorkshire and The Humber £17,000
East of England £17,000
South East £17,000
West Midlands £16,000
North East £16,000

Currently if you do not exceed an annual salary of more than £21,000 your loan will never be repaid.

Repayments won’t start for any course until April 2016, but you can make voluntary repayments before then.

Normally any outstanding loan you have will be written off 30 years after it becomes eligible to be repaid.

If you receive a disability-related benefit and are permanently unfit for work, it will be cancelled.

In addition, if you’re undertaking an Access to HE Diploma and then go on to complete an HE qualification the outstanding balance of your 24+ Advanced Learning Loan will be written off. To qualify for this write off you must have fully completed both courses. You do not need to take out a loan for the HE course. However, it must be eligible for funding by Student Finance England. The HE course does not have to relate to the Access to HE course you complete.

There is no upper age limit in order to apply for a 24+ Advanced Learning Loan.

No, you will not need to pass a credit check to take out a 24+ Advanced Learning Loan.

We are proud to offer our learners a 14 day no hassle money back guarantee. If at any point during this period you wish to cancel your course or loan with us and receive a full refund simply contact The Career Exchange and we will happily arrange it for you.

If this payment solution isn’t 100% right for you, have you considered the other ways you can pay for your course?

Career Exchange Loan Charter

The Career Exchange is committed to helping you succeed and get the career you want. We pride ourselves on customer experience and positive learner outcomes. Our loans should make these outcomes more accessible.

Course Funding Options FAQs

What happens if I want to repay my loan earlier we originally agreed?

What is a guarantor?

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