We strongly recommend that potential learners get advice and information on funding their studies before embarking on a course. It is important that they are given up-to-date information about course fees and funding when they apply to the course, to mediate against later difficulties due to financial constraints. There are two areas of finance that learners need to consider: course fees and living costs.
Advanced Learner Loans
Advanced Learner Loans are an option for people aged over 19 to fund their fees upfront for Level 3 to Level 6 courses in approved colleges and training providers in England. Learners can apply for a loan to meet the costs of their qualification, which will be paid directly to the college on their behalf.
If the learner takes out an Advanced Learner Loan for an Access to HE Diploma programme and then progresses and completes higher education study, then they will not have to pay back their loan. This is the only qualification where this applies. Higher Education study includes Higher Nationals, Foundation Degrees and Bachelor Degrees.
If the learner does not complete higher education study, then they do not have to pay back their loan until they are earning more than £21, 000 a year. The annual repayment amount would be 9% of any income over £21, 000 - for example, if they were earning £25, 000 then the monthly repayment would be £30.
The loans are administered by Student Finance England. The government has produced guidance on Advanced Learner Loans for learners and providers (including how to become an approved provider).
You can find all the OCN London qualifications that are eligible for Advanced Learner Loans here, including non-Access Certificates and Diplomas at Level 3 and 4.
Learning AIM codes
OCN London Access to HE Diploma AIM Codes 2016-2017