Aged 24 or over and thinking of studying a Further Education course? If you are thinking of studying a course at Level 3 or 4 you can apply for a 24+ loan to meet the cost of your learning.
To qualify for a loan you need to be:
- Aged 24 and over at the start of the course
- A resident in the UK for three years prior to the start of the course
- Enrolling on a course at Level 3 and above such as Access to Higher Education, A Levels, Diplomas and Certificates, Advanced or Higher Apprenticeships
- If you enrol and complete an Access to HE course and progress into higher education, your loan for the Access course can be written off.
Key Facts About The 24+ Loan Repayments
- Repayments will only start once you have completed your course and earning more than£21,000 per year.
- Repayment of the loan is via the tax system, and will only commence in April 2016.
- Repayments are 9% of income above £21.000, irrespective of the amount you take out.
- The minimum amount you can borrow is £300
- Outstanding loan balances will be written off after 30 years
- Monthly repayments are linked to your earnings rather than the amount of the loan so regardless of how much a student owes, the payment will be the same.
- If annual earnings fall below £21,000 repayments will stop and will only re-start when your earnings increase to more than £21,000 per year.
Frequently Asked Questions (FAQs)
Does the loan cover the tuition fees?
Yes the 24+ loans are for tuition fees only, bursaries may be available subject to eligibility criteria.
Do I get the money in full?
No, Student Finance England will pay your agreed tuition fees direct to the College in equal instalments.
Will I need to have a good credit history to apply?
There is no credit check and your household income is not taken into account. However, it is important that you consider your own circumstances and look into all the options for paying for your course.
Where can I get independent financial advice?
Money Advice Service (MAS) is an independent service, set up by the government to help people make the most of their money. It is able to provide impartial money advice to anyone seeking help on how to manage their own financial affairs.
Impartial money advice is available from the
Where can I find out more about the 24+ loan?
You can find out more about the 24+ loans by contacting the Learner Services or Admissions Team, at Paddington Green or Queen's Park Campus.
Click here to download our 24+ Bursary Fund Policy
Careers Information/general advice
- Learner Services - 020 7258 2759/2820
- Bursary Support - 020 7258 7221
General Information on Fees
Admissions Office (PGC) - 020 7258 2830
Can I get support from the 24+ Bursary Fund?
The Bursary fund provides support for disadvantaged and vulnerable learners. All learners who have had a loan approved by the Student Loans Company (SLC) and have registered for their course are potentially eligible, dependant on need.
The Bursary helps remove the barriers that Loans funded learners might face by providing for:
Additional Learning Support (including exceptional ALS) activity that is, for “in-learning” support, such as for learning support assistant support, specialist equipment, technology and necessary adjustments under the Equality Act 2010. Bursary funding for hardship and other difficulties such as childcare and travel. If you feel that you are eligible for support from the Bursary Fund you must speak to a member of the Disability Support Team, if you need Additional Learning Support or a member of the Student Advice team if you require financial support for childcare or travel, before enrolling on your chosen course. They will be able to tell you if funding is available to meet your needs.
The allocation of money is small and applications made before the end of June 2013 will be considered first. Applications for ALS, Childcare and Ex-Service personnel will be prioritised.
The Bursary Fund is distributed at the discretion of the College and is not a learner entitlement. Please refer to the College 24+ Bursary Fund policy for further information.
How do I apply for the 24+ loan?
You can apply online or download an application form from the www.gov.uk website or you can collect an application form, from the Information Centre or from the Admin Office at the Paddington Green or Queens Park Campus.
When can I apply?
You can apply for your loan from April 2013 for courses starting between 1st August 2013 and 31st July 2014.
Admissions Office (QPC) - 020 7258 2812