As of the 1st of August, the 24+ Advanced Learning Loan is no more. But don’t worry, it hasn’t gone completely! It is now just known as the Advanced Learning Loan because anybody aged over 19 can now apply for one of these loans to cover the cost of their Further Education courses.
That isn’t all that has changed either! There are a couple of other really important changes that have been introduced which are certainly worth knowing.
The first one being that Advanced Learning Loans can now be used to cover the cost of Level 5 and 6 qualifications as well as Level 3s and 4s. This is obviously great news for anyone that is looking to work towards management level qualifications within their sector.
The other change that has been introduced is a crucial one for a lot of people. Before now, you had to complete the course you was on before you could apply for another loan to fund another course. Even then, you couldn’t take out a second loan for a course of the same type and level as the previous one. But that has all changed now. You can now have for up to four loans at the same time for courses of the same type and level if you so wished. You can still only have up to 4 Advanced Learning Loans to your name, but you can now take these loans out whenever is most convenient for you.
Other than that, everything else is pretty much business as usual with the Advanced Learning Loans. If the Advanced Learning Loan is new to you and you would like to find out what is involved with this funding option and whether or not you will be eligible then the Advanced Learning Loan factsheet is certainly worth a read.