mollys_issue5_HIRES_compressed (1)

Lincoln
College
...24+ advanced learning
Have you considered going back to College but
been put off by the costs? Have you wanted to
retrain, but felt it was too much of a financial risk?
Well, a new initiative by the government
will allow you to retrain with no upfront
costs. Called 24+ Advanced Learning Loans,
this scheme operates very similarly to the
University loans system. In short, you take out
a loan to pay for the costs of your course, and
only start to pay it back when you have left
your course and earn over £21k per year.
Your household income isn’t taken into
account, and there is no credit check. The
amount you can borrow depends on your
course, and the tuition fees - the money you
borrow will be paid directly to the College
on your behalf.
The choice of courses that you can get a
loan for is wide and includes A Levels, Level
3 and Level 4 Certificates and Diplomas plus
Advanced and Higher Level Apprentices.
These courses are available across a wide
variety of subject areas including business,
accounting, construction, engineering, hair
and beauty. In addition, you can also access
a loan to study on the Access to Higher
Education course: this course is an intensive
course to get people prepared to study for
a degree.
The very first loan repayments will be made in
April 2016 – and only then if you are earning
over the £21k threshold. Your repayments
are based on what you earn, not how much
you borrowed. So for example, if you earn
£22k, your monthly repayment will be £7.
To find out more, please visit www.direct.
gov.uk/advanced learning loans or www.
lincolncollege.ac.uk/ 24_advanced_learning_
loans or contact Lincoln College on
01522 680680 or email
enquiries@lincolncollege.ac.uk.
24 tel: 01522 535068 email: info@mollysguide.co.uk molly’s guide • issue 5 • Easter 2013