You may have heard that 24+ advanced learning loans were on the horizon well they are now here and you can use them to pay for some or all of your training costs with Trade skills 4U. The idea is very simple and means that now those over 24 years old can access student loans for vocational training. This not only represents a great opportunity if you are looking to up skill, it also recognises the importance of vocational training and puts it on a par with many university courses.
The loans apply to courses starting from the 1st August 2013 to 31st July 2014 and as long as you will be 24 or above when the course starts you can start applying today. For details on the specifics of the loans see our 24+ Loans page.
Students can opt to pay for a whole course or just a proportion of the total cost of the course with the loans should they wish. However you can not borrow more than the total cost of the course.
You only start to repay the loans once you are earning over £21,000 per year and the repayments are made as a percentage of the amount you earn over £21,000. For example if you are earning £22,000 you will pay £7 per month back, if you are earning £25,000 you will pay £30 per month.
So what does this mean if you are thinking of training with us?
The student loans are only available to course that are registered on the QCF and are level 3 or above. At present this means that the Level 3 City & Guilds 2365 Diploma in Electrical Installation is eligible for student loans. As such you can cover the full cost or just part of the cost of this course with the student loan.
We also offer a City & Guilds 2365 Level 2 & 3 Diploma Package. Again you can apply the loan to the Level 3 part of the course meaning £2995 of the course cost will be covered by the loan.
This is the first time courses of this type can be funded via a student loan so this is actually a big change in the market place. It means students now have more choice in how they pay for their courses.
Most learners aged 24 and over, studying at level 3 and above will qualify for these new loans from the UK Government. It’s easy to apply, your household income is not taken into account and there is no credit check.
If you need more information don’t forget to visit our 24+ Advanced Learning Loans page or simply call a course advisor on 01293 529777 now.