Advanced Learning Loan
Advanced Learner Loans are for further education learners aged 19 or older enrolling on designated Level 3 Diploma or above. The learner will in most cases, if eligible, be able to apply for 19+ Advanced Learner Loan, which is paid directly to the college. The loan value will cover the combined costs of tuition and examination and registration fees.
The 19+ loan will only be available for those courses advertised by PVG Training with ‘Student Finance Available’ and learners will need to receive a 19+ Advanced Learner Loan letter from the college confirming course eligibility before they apply for the loan. It is the responsibility of the learner to apply for tuition fee loan through Student Finance for the payment of their tuition and to ensure that they request for the amount that covers the cost of their tuition.
Learners will be informed before enrolment of their fee accountability upon withdrawal through their ‘Funding and Information’ letter. Where a Loan learner pays fees through an Advanced Learning Loan and then withdraws early from the course his/her monthly loan payments to PVG Training will cease.
The learners will be liable to the Student Loan Company for the amount of the loan payment made to PVG Training. Any additional fee that are not mandatory for the programme, for example any materials that the learner chooses to retain will be charged directly to the learner.
Learners will not be allowed to commence the programme without proof of a loan application being in place. Learners who do not wish to take out a tuition fee loan must make arrangements to pay the tuition fee liability in full or to arrange for instalmental payment prior to registration.
Payment of Loan
The learner will start to repay the loan in the April after they have achieved their qualification. The learner will only start making repayments when their income is £25,000 a year. If the learner’s income falls below this threshold, repayments will stop and only restart when their income is over this threshold. You will pay interest from the time your first payment is made until you pay your loan back in full.
Learners who withdraw from their course early will have their loan liability reduced in line with the Student Loan Company payment schedule. Tuition Fees are normally fixed for the normal duration of your Programme unless your Offer Letter sets out that your Tuition Fees will increase. In this case the Offer Letter will indicate the amount of any increase or the manner in which it will be calculated.
This document sets out when learners will be charged for tuition fees and their liability at each stage during their time of study and to pay back amount of money paid to the college to Student Finance Company if they withdraw from the programme.
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