Transcript Briefing pack slides

From September 2013, Level 3 and above courses will
no longer be funded for over 24’s by the government.
This means that learners will have to
pay for their own courses at this level.
To help you continue your studies beyond level 2, the
government have introduced
Advanced Learning
Loans
The National
Timeline for
Advanced Learning Loans
• September 2012
Regulations come into force
• Autumn 2012
Loans Facility and Bursary allocations to
providers
• April 2013
Loans application system available
• August 2013
Loans-funded learners begin courses
(1) Choose
learning option/s
(2) Receive
Learning & Funding
information Letter
(3) Consider the
options
(4) Complete the application
process either online or on
paper and submit it to the SLC
(5) Receive confirmation
from the SLC that the loan
has been approved
(6) Start the course- the
payment is dealt with by
the SLC
(7) The College confirms
learner attendance and
receives monthly payments
(8) Course
completion
(9) Once in work and earning
more than £21,000 per annum,
loan repayments start at a
rate of 9%
(10) Completed loan
repayment
To be able to apply,
learners must be:
• aged 24 and over at start of course
• Going into study at Level 3 or 4: QCF
Certificates & Diplomas, Access to HE, Alevels and Advanced/ Higher Apprenticeships
The loan is:
• Not means-tested nor subject to credit checks
• Not based upon prior attainment (for first Loan)
• Multiple Loans available to support progression but
not available for same type of course at same level
Loan amount
• One application for the duration of the
course (up to 3 years), not each year that
courses fall in
• Minimum of £300 up to the value of either
the provider's fee or the funded rate set by
the Skills Funding Agency (whichever is the
lowest)
• For Apprenticeships, the funding rate (and
maximum Loan) takes account of the
assumed 50% employer contribution
Additional learner
support available
• £50 million bursary fund spread over two
years (2013-14 and 2014-15)
• Support for mature students with learning
difficulties or disabilities
• Help to meet costs such as childcare, travel,
books and equipment
• Writing off outstanding Loan for Access to
Higher Education Diploma courses on
completion of subsequent HE course
• IAG from National Careers Service including
a face-to-face session with a careers adviser
for older adults.
To complete your
loan application you
will need:
• Personal Details
• National Insurance Number (NINO) and ULN
• Residency information
• Passport details or alternative, accepted ID
• Provider and Learning Aim Details
• Start and end dates
• Learning Aim Reference Number
• Fee charged by provider
• Loan amount requested
Learner repayments
start:
• Once the learner has finished the
qualification (or has left the course) and is
earning more than £21,000 gross a year
• Monthly, via the tax system; first
repayments commence in April 2016 in line
with changes to HE repayment
• Additional voluntary repayments possible
(by borrower and/or others, such as
employer)
Learner repayments
will be:
• 9% of income above £21,000 – irrespective
of the amount of Loan(s) taken out
• Interest rates are linked to inflation – a
sliding scale of the Retail Price Index (RPI)
for incomes of less than £21,000; up to RPI
+ 3% for incomes above £41,000).
To show you what
this means:
Annual income before tax
Repayment amount
Up to £21,000
£0
£22,000
£7 per month
£25,000
£30 per month
£30,000
£67 per month
£35,000
£105 per month
£40,000
£142 per month
If your circumstances
change:
• The loan repayments will be suspended if
income falls below £21,000 – such as a
career break or unemployment –and only
starts again when the borrower again earns
over £21,000
• Outstanding Loan balances written off:
• after 30 years
• on retirement (on pension)
• on death (no family liability)
Useful links
• BIS:
https://www.gov.uk/government/policies/improving-thequality-of-further-education-and-skills-training
• Skills Funding Agency:
http://skillsfundingagency.bis.gov.uk/providers/
programmes/24AdvancedLearningLoans/
• Contact for queries on funding policy:
[email protected]
Useful links
• SLC Learning Provider Portal:
http://www.lpservices.slc.co.uk
• Contact for queries on
administration/SLC systems:
[email protected]
• Learning Provider Services:
http://lpservices.slc.co.uk
(access to the Portal from March 2013)
• LSIS support including toolkits and
seminars:
http://www.excellencegateway.org.uk/24plusloans