31st July 2012
Government introduce new funding scheme for adult learners
The Department for Business, Innovation and Skills (BIS) has set the wheels in motion for a new loans scheme for learners aged 24 and over, studying courses at Level 3 and above.
Currently, learners in further education are forced to pay an upfront fee in order to join their chosen course. The 24+ Advanced Learning Loans will break down this barrier to participation in learning, as repayment of the loans will be linked to income; there is nothing to pay until the learner is earning more than £21,000. Rates of interest will be lower than anything currently available and outstanding balances will be written off after 30 years.
Research published by BIS shows that 74% of people would now consider undertaking further education following the introduction of the loans. For the first time ever in the UK, loans will give learners in further education the access to financial support for tuition costs that so many learners in higher education already benefit from.
Gordon Henderson, MP for Sittingbourne and Sheppey, is urging those considering further education to make the most of this opportunity:
“This is an excellent opportunity for those who may have wanted to undertake further education in the past, but found the upfront cash contribution to the course a barrier to access.
“It could make level 3 courses at Sheppey College and Sittingbourne Adult Education Centre much more accessible.”
The application system opens on 1st April 2013. For more information about the 24+ Advanced Learning Loans, visit: