NEED A LEVEL 4 TEACHING, IAG OR ASSESSING QUALIFICATION TO FURTHER YOUR TEACHING / ASSESSING CAREER? OR DO YOU WISH TO START A CAREER IN TUTORING / TEACHING??
GUARANTEED INTERVIEW WITH ONE OF THE UK’s LARGEST SUPPLIERS OF VOCATIONAL TUTORS
******USE A 24+ LOAN******
Advanced learning loans have been available since August 2013. The purpose of these loans is to help those over the age of 24 pay for their tuition fees for courses at levels 3 and 4. Typically candidates over the age of 24 are no longer eligible for funded training.
A 24+ loan pays for your course up front but you don’t start to pay until the April after you’ve completed your course and only if you are earning over £21,000 a year. Repayments are based upon how much you earn, making them manageable.
To qualify for a loan you must meet the following requirements:
You must 24 years of age or older on the first day of your course.
be living in the UK on the first day of your course
have been living in the UK, Channel Islands or Isle of Man for 3 years before starting your course
be a UK national or have ‘settled status’ (this means there’s no restrictions on how long you can stay)
Money available from the loan
The value of your loan is dependent on the course you undertake and the fees charged by Ixion. You may choose to take out a loan to cover the full cost of your course or you may wish to pay some of the cost yourself and take out a loan to cover the balance of the cost. The minimum loan you may take out is £300.
Loan repayment guidelines
• Repayments start the April following the completion of your course.
• You pay back your loan (plus interest) when you finish your course and earn more than £21,000 a year. Your repayments will stop if your income drops below £21,000 a year.
• Your annual repayment amount will be 9% of any income you earn over £21,000.
Your repayments would be:
£7 a month – if you earned £22,000 a year
£30 a month – if you earned £25,000 a year
Interest rates guidelines
- Interest rates will be at the rate of inflation plus 3% whilst you’re studying your courses and up until the April after your course ends.
- Upon the completion of your studies and if you’re earning less than £21,000 your interest rate will only be at the current rate of inflation.
- However if you’re earning between £21,000 and £41,000 your interest rate will be the rate of inflation plus 3%.