|Free Funded Courses HND Level 4 & 5||HND – Course Specification|
Benefits to you:
HND qualifications may serve as a way to many professional qualifications
Advanced Learner Loans Explained
If you are aged 19 or over and want to study a course at level 3 or above, you may need to pay for the cost of your course. The Advanced Learner Loan is a way of borrowing money to pay for this. It is easy to apply for, and does not take your household income into account or involve a credit check.
Key Facts About the Loan
- Repayments are linked to what you earn and not how much you borrowed
- You only have to start making repayments when you’ve finished your course and if you’re earning over £21,000 a year (which is £404 a week or £1,750 a month). Until then you don’t need to pay back anything but you can make voluntary repayments at any time
- You pay 9% of the money you earn over £21,000 before tax. For example, if you earn £22,000 a year, your monthly repayment will be £7 a month; and if you earn £35,000 a year, it will be £105 per month
- Interest is charged on a sliding scale between the Retail Price Index (RPI) and RPI +3%, depending on how much you earn
- If your Advanced Learner Loan is for an Access to Higher Education course and you go on to complete a degree, the Advanced Learner Loan gets written off.
To qualify you must be:
- Aged 19 or over on the first day of your course (there’s no upper age-limit)
- Living in the UK on the first day of your course and have lived in the UK, the Channel Islands or the Isle of Man for three years immediately before this unless you meet one of the exceptions
- You must be studying with a college or training organisation in England approved for public funding, which Dudley College is
- Enrolling on an eligible course at level 3 and above
Please note: these loans do not cover Degrees or other forms of Higher Education (HE). For information on funding for HE go to: gov.uk/studentfinance
The Learner Support Funds (Publicly Funded Courses)
Learners studying on publicly funded courses and in receipt of a low household income may be able to access financial assistance through the Learner Support Fund. The funds can help with the cost of course fees, childcare, transport, essential course requirements, travel etc. For learners studying at Level 3 or 4 and aged 19 and over please see the section on Advanced Learner Loan. Financial support is not available for learners studying courses paid for by employers.
Professional and Career Development Loans
Professional and Career Development Loans are bank loans designed to pay for courses and training that help you to get into work or advance your career. You may be able to borrow between £300 and £10,000. Loans are usually offered at a reduced interest rate and the government pays the interest while you’re studying. https://www.gov.uk/career-development-loans/overview