19+ Learner Loans
Are 19+ Advanced Learner Loans in care for you?
If you’re planning to study at level 3 – 5 in care then you may qualify for 19+ advanced learner loans. The 19+ Advanced Learner Loans are perfect for those members of your team who are looking to develop their skills, the learner loan scheme (formerly the 24+ loan) is used to fund Level 3 and above courses. An example of an eligible course would be the Level 3 Certificate in Assessing Vocational Achievement QCF, which is ideal for those responsible for signing off Care Certificate competencies.
Key Information about 19+ Advanced Learner Loans
• No functional skills in Maths/English required.
• Achieve qualification within 6-12 months.
• There’s no credit check.
• Your household income isn’t taken into account.
• There is nothing to pay back until you earn over £25,725 a year
Top Frequently Asked Questions about 19+ Advanced Learner Loans
“Can I afford to pay the loan back?”
Repayments start the April after you complete or withdraw from your course. You pay back your loan (plus interest) when you finish your course and earn more than £25,725 a year. Your repayments will stop if your income drops below £25,725 a year. Your annual repayment amount will be 9% of any income you earn over £25,725.
Your monthly repayments would be:
£9 a month – if you earned £27,000 a year
£32 a month – if you earned £30,000 a year
“I want to go on to university. I can’t pay back two loans.”
If you go on to higher education, any government loans you take out will be combined with your Advanced Learner Loan. Your repayments won’t change.
“If something happens and I can’t finish my course, will I end up paying for it anyway?”
No payment from your loan will be made to Abacus Training until you’ve attended your course for more than two weeks. If you leave after more than two weeks, you’ll have to pay back any loan payments that have been made, based on the length of time you attended your course. Once you stop attending, the loan payments will stop.
For more information please contact us!