Advanced Learner Loans
If you’ve decided to study a qualification with Sysco, but you don’t have the funds to pay for it, the new Advanced Learner Loan will help you to cover the costs. We specialise in offering loans to cover the undertaking of the IQ Level 3 Diploma in Principles of Health and Social Care. This is a 90 credit knowledge-only qualification for anyone wishing to gain further skills within health & social care.
To undertake the Level 3 Diploma in Principles of Health and Social Care Learners should be aged 24 years or older and will be required to take out a loan of £4670 to cover the cost of the qualification.
Learners will not be required to pay back any of this unless they earn over £21,000 per annum now, or in the future
For further information and to proceed with the qualification funded by an Advanced Learner Loan, contact Sysco by email or by using the Contact Us button on the top menu.
Advanced Learning Loans
Aged 24 or over and thinking about further education?If you’re starting a course with Sysco then you may qualify for an Advanced Learning Loan to cover the costs of training.
What are Advanced Learning Loans?A student loan service provided to those aged 24+ to help cover the costs associated with Further Education courses. Most learners aged 24 and over, studying at Level 3 or Level 4 for a Certificate or Diploma, will qualify for these new loans from the UK Government.
What does Advanced Learning Loans cover?It can be taken in full or to pay part of the course fee and you won’t have to pay anything back until your income is over £21,000 a year. At this point you will be required to make payments that equal the rate of inflation plus 3%. The amount you pay is based on the rate of inflation. The rate for a year is fixed for a year on 1 September based on the inflation rate (RPI measure) in the previous March. The rate is that year's inflation rate + 3%, March 2015's inflation rate was 0.9% therefore you have to pay a minimum of 3.9% throughout 2015/16.
The benefits of Advanced Learning LoansThere are obvious benefits to a government secured loan that are preferable when compared to existing funding options. Eligibility is not assessed on your income and credit checks will not be carried out.
Costs ExplainedThe loan can be taken in full or to pay part of the course fee - £300 being the minimum loan amount that can be received.
For non A Level courses, learners can have up to 4 loans provided that additional loans are not being claimed for a course at the same level to one which they have already studied. They can only have one loan at a time as well.
Repayments are triggered once the course has finished & the learner is earning £21,000 or more annually. The repayments will be 9% of any income you earn over £21,000. The interest on the loan will accrue from when the first payment is made until the loan is paid back in full & will be applied at the following rates;
|Still on the Study Programme - following April||Rate of Inflation (RPI) + 3%|
|£21,000 or less||RPI|
|£21,000 - £41,000||RPI + up to 3%|
|£41,000 +||RPI + 3%|