Funding Support

For learners
24+ Advanced Learning Loans

Are you unable to get funding to progress your qualifications and can't afford to meet tuition costs?

You should consider applying for an Advanced Learning Loan. Specifically aimed at UK resident learners aged 24 and over at the start of the course, studying at Level 3 or Level 4, but not having previously had a loan to do the same qualification type and level to give them access to career advancing, high quality, nationally recognised qualifications. 

Paid directly to your Skills Funding Agency approved supplier to meet your qualification costs, the Advanced Learning Loans are not means tested or subject to credit checks so if you meet the above criteria you will be able to apply for a loan regardless of your current employment status.

You can apply by downloading an application form from the Student Finance England website or by completing an online application form available on the Student Finance pages of the Direct Gov website.

The Advanced Learning Loan amount that you can apply for varies depending upon the cost of the course you chose and any contribution you or your employer may wish to make, but is subject to a minimum loan of £300.

In line with the long established higher education student loans, Advanced Learning Loan repayments are collected through the PAYE system at a rate based on your salary, and currently don't have to paid back until you are earning over £21,000p.a. and are written off after 30 years where full repayment has not been completed.

Advanced Learning Loans are subject to a low rate of interest that is linked to inflation, (the Retail Price Index, currently at approximately 3%), do not affect your future credit rating, but may still (in part) be repayable where you fail to complete or pass your course of study.

 

 
For further information please make contact with Release Potential or visit the following web sites:

www.slc.co.uk

www.sfengland.slc.co.uk

www.studentfinance.direct.gov.uk

 

 

 

advanced learning loans

For Employers
Cash Incentives

If you are looking to recruit new staff for your organisation, a cash incentive* in conjunction with Job Centre Plus can provide you with financial support.

Wage incentives could be yours when you take on an 18 to 24 year old who has been claiming benefits for at least six months. They are also available if you take on a young person from the Work Programme, delivered by the private, public and voluntary sector to help individuals at risk of becoming long-term unemployed find work. In addition, wage incentives are available for taking on a young disabled person from the Work Choice programme.

Release Potential have a strong working relationship with Job Centre Plus and with their close co-operation we try to ensure that the employers we work with can claim their cash incentives.



If you take on a young person for 16 hours or more each week in a job lasting more than 26 weeks then you could claim an incentive.

There are two rates

BP Yellowfor part-time work between 16 and 29 hours a week – £1,137.50

BP Greenfor full-time work of 30 hours or more a week – £2,275

This will be paid 26 weeks after the employee starts work. Small businesses with fewer than 50 employees can claim a part payment eight weeks after the employee starts work.

If you are interested and feel that your business could benefit from a cash incentive, please call us on 0808 178 2512 and ask to speak to a member of our sales team.

*Cash incentive information provided by Job Centre Plus