24 plus loans help learners aged 24 or above to pay the fees of a training course by colleges or training providers. 24 plus advanced learning courses are available for those who want to study level 3 or level 4 courses. These loans are similar to the higher education loans, but it introduced for further education.

You don’t need to pay anything up front for your course fees or no need to show any credit amount on your bank because getting 24 plus loan doesn’t depend on your income. Repayments will make after your income reaches over £22,000 yearly so you don’t have to worried about to pay back until you’re earning over £22,000 a year. Anyone who meets the criteria can apply for a loan, whether they are employed or unemployed. So it’s important to consider your own circumstances and look into all the options for paying your course.

It is the responsibility of the student to apply for the loan, but support from the college or training center will be available during the process. If your loan is for an admission to higher education course and your progress to complete a higher Education/University Level program, you will not have to pay back your further education loan.

  • Limitations
    • 24 plus loans only cover the tuition fees
    • Students don’t get the full money. SFE will only pay your agreed tuition fees directly to the college in equal instalments.
    • Minimum loan you can take out is £300
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– You don’t have to repay your loan until your income reach more than £404/week, £1750/month or £22k/year. If your salary is less than £22K or drop below during the payback, you can stop making payments. Your repayments will only start from April 2016.

– You have to repay your loan only 9% of your salary.

– Access to HE loans get written off if you want to start a HE course that is eligible for finance student. If you get HE loan you don’t have to repay it.

– 24 plus loan is not dependent on you earning so there is no need to show your credit checks!

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How to Apply

Download an application for to send by post or you can apply online through website by filling the online form. When confirm your chosen course and you meet the eligibility criteria of course, please as us for a learning and funding information letter covering course information which you will need to make your loan application. You must have an NI number before the loan can be paid but you can make the initial loan application without one.

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– Candidate’s age must be 24 or above on the first day of your course

– Loan available for courses starting on or after 1st August 2013

–Candidate must be UK residential on the first day of course and have lived in the UK, Channel Islands or the Isle of Man for three years immediately before this.

– Candidate must studying with a college or training center in England Approved for public funding.

– Registering on an eligible course at Level 3 and above which includes: Access to HE Diplomas, A-Levels, other Diplomas and Certificates, Higher Apprenticeships or Advanced Apprenticeships.

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Repayments start from April 2016. You only have to repay after earning more than £404/week, £1750/month or £22000/year. If your salary is less than £22K or drop below during the payback, you can stop making payments – please see the table below for more information:

Annual Income before Tax Monthly Salary Monthly Repayment
Up to £21,000 £1,750 £0
£22,000 £1,833 £7
£25,000 £2,083 £30
£30,000 £2,500 £67
£35,000 £2,916 £105

Interest rate applies to your loan is based on the retail price index (RPI) and can depending on your circumstances. The RPI is updated once a year. Please see the following table for more detail:

Your circumstances Interest Rates
RPI when you are studying on your course RPI + 3%
RPI from the April after you have completed or left your course, but before April 2016 RPI
After April 2016 while you are earning up to £21,000 per year RPI
After April 2016 while you are earning over £21,000 RPI + percentage based on your salary
After April 2016 while you are earning over £41,000 RPI + 3%

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