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Lev­el 3 or High­er Lev­el Cours­es (Advanced Learn­er Loan)

Aged 19+ and apply­ing for a Lev­el 3 or high­er lev­el course?

Please note this infor­ma­tion is for cours­es start­ing before 31 July 2023. The cri­te­ria may change for cours­es start­ing after this date.

If you’re aged 19 or over and are think­ing about study­ing a Lev­el 3 or Lev­el 4 course, you may not have to pay any tuition fees but if you do, the 19+ Advanced Learn­er Loan might be for you. The loan is there to help you with the cost of your course fees.

See the table below to see how you could fund your Lev­el 3 or above course.

Pro­vi­sion 19 – 23 year olds 24+
Pro­vi­sion: Lev­el 3 qual­i­fi­ca­tion if it is your first and full Lev­el 3 qual­i­fi­ca­tion and if your cho­sen course qual­i­fies for funding. 19 – 23 year olds: Ful­ly funded  24+: Loan fund­ed
Pro­vi­sion: Lev­el 3 qual­i­fi­ca­tion that is list­ed as part of the Nation­al Skills Fund if you are earn­ing under the Nation­al Liv­ing Wage annu­al­ly or unemployed. 19 – 23 year olds: Any adult in Eng­land earn­ing under the Nation­al Liv­ing Wage annu­al­ly (£18,525) will also be able to access these qual­i­fi­ca­tions for free, regard­less of their pri­or qual­i­fi­ca­tion level. 24+: Any adult in Eng­land earn­ing under the Nation­al Liv­ing Wage annu­al­ly (£18,525) will also be able to access these qual­i­fi­ca­tions for free, regard­less of their pri­or qual­i­fi­ca­tion level.
Pro­vi­sion: Lev­el 3 qual­i­fi­ca­tion if you have already achieved Lev­el 3 or above and your cho­sen course isn’t part of the Nation­al Skills Fund. 19 – 23 year olds: Loan fund­ed 24+: Loan fund­ed
Pro­vi­sion: Lev­el 4, 5 and 6 qualification 19 – 23 year olds: Loan fund­ed 24+: Loan fund­ed

It’s easy to apply – your house­hold income isn’t tak­en into account and there’s no cred­it check.

Repay­ments

Repay­ments are based on your income, not on what you bor­row or the num­ber of stu­dent loans you have. This is known as an income con­tin­gent’ repayment.

Exam­ple of repay­ment amounts

You’ll repay 9% of your income over £27,295 a year. Even if your income doesn’t exceed £27,295 a year but is over £524 a week or £2,274 a month at any point in the year (e.g. if you work over­time) then a loan deduc­tion will be made.

For exam­ple, if you’re paid month­ly and earn £2,500 before tax you’d repay 9% of the dif­fer­ence between what you earn and what the thresh­old is:

£2,500 — £2,274 = £226

9% of £226 = £20.34

So your stu­dent loan repay­ment would be £20 in that month.

If your income changes, either ris­ing or falling, your repay­ment amounts will auto­mat­i­cal­ly change to reflect this. A dif­fer­ent thresh­old may apply if you move to live in a coun­try out­side the UK

Annu­al Income before tax Month­ly Income before tax Month­ly repayment
Annu­al Income before tax: Up to £27,295 Month­ly Income before tax: £2,274 Month­ly repayment: £0
Annu­al Income before tax: £28,000 Month­ly Income before tax: £2,333 Month­ly repayment: £5
Annu­al Income before tax: £30,000 Month­ly Income before tax: £2,500 Month­ly repayment: £20
Annu­al Income before tax: £32,000 Month­ly Income before tax: £2,666 Month­ly repayment: £35
Annu­al Income before tax: £34,000 Month­ly Income before tax: £2,833 Month­ly repayment: £50
Annu­al Income before tax: £36,000 Month­ly Income before tax: £3,000 Month­ly repayment: £65

Inter­est on your repayments

You’ll be charged inter­est at the Retail Price Index (RPI) + 3% while you com­plete your course and until the fol­low­ing April after leav­ing your course.

After that inter­est is linked to your earnings.

If you do need any help with your appli­ca­tion, just con­tact our friend­ly enrol­ment team.

You can call them on 0115 9 100 100 or email enrolmentteam@​nottinghamcollege.​ac.​uk.