24+ Advanced Learning Loan with other Student Finance Loans (Previous Undergraduate)

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username1867425
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Hi,

I was wondering if I would be eligible for a 24+ Advanced Learning Loan if I have completed Undergraduate Study and hold a student loan with Student Finance England? Also, how would this affect repayments: would it still only be 9% of my income over £21,000, or would it increase due to having another loan (i.e. 24+ Advanced Learning Loan and Undergraduate Loan).

Any help, general information regarding this and the 24+ Advanced Learning Loan would be greatly helpful,

Thank you in advance.
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Mark Lee - SFE Official Adviser
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Hi bigsmoke

The only previous study that we will need to consider is if you have received 24+ Loans before. If you have not had any you will be able to apply.

We can provide up to 4 loans to a customer. If they decide to go on to study more than one course, they can only receive funding if the new course leads to a different qualification and/or at a different level.

The customer does not need to be progressing their level of study and there does not need to be a link between the courses in order to qualify for a loan. If the customer has been in Higher Education before they can still apply for a 24+ Advanced Learning Loan and will be eligible to receive funding for up to the maximum number of loans, even if you have gained qualifications previously.

If you need to discuss anything you can call the 24+ helpline: 0300 100 0619

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username1867425
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(Original post by Mark Lee - SFE Official Adviser)
Hi bigsmoke

The only previous study that we will need to consider is if you have received 24+ Loans before. If you have not had any you will be able to apply.

We can provide up to 4 loans to a customer. If they decide to go on to study more than one course, they can only receive funding if the new course leads to a different qualification and/or at a different level.

The customer does not need to be progressing their level of study and there does not need to be a link between the courses in order to qualify for a loan. If the customer has been in Higher Education before they can still apply for a 24+ Advanced Learning Loan and will be eligible to receive funding for up to the maximum number of loans, even if you have gained qualifications previously.

If you need to discuss anything you can call the 24+ helpline: 0300 100 0619

Thanks
Thank you for your reply Mark,

I have not had a 24+ Advanced Learning Loan before, only an Undergraduate loan. How does the repayments work if I had, for example, an Undergraduate loan (post 2012 system: 9% above £21,000), alongside 1 or 2 24+ Advanced Learning Loans - would I still only pay 9% above £21,000 in total (9% above £21,000 from my salary only), or would there be an increase due to having multiple loans? (i.e 9% for the Undergraduate degree, 9% for the Advanced learning Loans)?

If I only pay 9% from my salary, then how do you distribute the repayments for the multiple loans? Example; if I'm earning £30,000 per year, therefore £810 comes off to pay for the loans: how much of that goes towards the Undergraduate loan, and the 1 or 2 Advanced Learning Loans?

Also, are they only available for level 3 qualifications?

Thank you in advance for your help Mark!
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Mark Lee - SFE Official Adviser
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Hi again

Any further undergraduate loan is simply added to the total of plan 2 loan you already have. This will mean it will still be 9% of any funding over the threshold.

The 24+ loans are available for the following types of study:
  • A levels (including AS and A2 Levels)
  • Access to HE courses
  • Level 3 Certificates
  • Level 4 Certificates
  • Level 3 Diplomas (including Technical Levels and Early Years Educators)
  • Level 4 Diplomas
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