KBM Training and Recruitment is changing the student finance landscape in the UK by providing student loans to pay their course fees. We are a passionate group with a simple belief that no qualified student be denied a productive education due to financial reasons. It's really a drawback that money gets in the way to potential and deserving students.
There is an option in study loan UK for students aged 24 and over to fund their fees of any courses from approved colleges and training providers. However, If your age19 to 23, you will be concerned to know that 24 plus advanced learning loans are due to be replaced by advanced learners for courses starting from 01 August 2016. The advanced learner loans will be available to those who are aged 19 or above. For courses from level 3 up to level 6. Applications for advanced learner loan can be made from May 2016.
If you wish to gain a basic qualification through study loan UK and you are aged under 24, you are not eligible for 24+ advanced learning loans until the advanced learner loan is available. But if your age under 24 or you want your first basic skills qualification, you may be able get government funding for your basic skill course.
The 24+ advanced learning loans are the same as any other loans where you have to meet the repayment conditions. Monthly repayments will start once you are earning over £21,000 through the student loan company. Repayments through the tax system won’t begin until 2016, but if you want to make payments or to pay back your loan in full at any time before you can repay without incurring penalties.
As study loan UK for higher education and any other loan, 24+ advanced learning loans will be subject to interest charges as well. 24+ loans are linked to inflation and provide low real interest rates. On 24+ loans the interest will be charged at the Retail Price Index (RPI) 3 percent during the study until the April after a student leaves their course. From this point, interest is linked to earnings and will be: