Have you heard about
the Advanced Learner
Loan?

If you’re aged 19 or over, are living in the UK and have been for the past three years, and want to study an accredited programme in beauty, accounting, or management, you could be eligible for funding to contribute towards the cost of your tuition. Encompass also offers AAT Level 3 and 4 funded by an Advanced Learner Loan through an online/distance learning platform.

The Advanced Learner Loan is a government-funded loan to help learners. It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.

Here are some key facts about the loan:

  • Repayments are linked to what you earn and not how much you borrowed.
  • You only have to start making repayments when you’ve finished your course and you’re earning over £25,000 a year (which is £481 a week or £2084 a month). Until then you don’t need to pay back anything.
  • When applying for an Advanced Learning Loan, there is no credit check and household income isn’t taken into account.
  • If you want to make voluntary repayments, you can do so at any time.
  • Loan repayments will be taken directly from your wage through the tax system.
  • You may be able to get financial support for living expenses, this depends on where you live and your household income.
  • Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn.
 

Level 3

  • Diploma in Nail Technology
  • Diploma in Make-Up Artistry
  • NVQ Diploma in Beauty Therapy Massage
  • NVQ Diploma in Beauty Therapy General

Level 3

  • Advanced Diploma in Accounting
  • Advanced Certificate in Bookkeeping

Level 4

  • Professional Diploma in Accounting