19+ Advanced learner loans are, an opportunity to invest in your own career and are, in essence, the same as a student loan more traditionally associated with going to university. It is a great way of investing in your own future and is safe. Debt is only repaid when you earn enough to be able to afford it and if anything changes and you drop below the threshold payments stop.
Six reasons why a learning loan is a great idea:
You pay back your loan (plus interest) when you finish your course and earn more than £21,000 a year. Your repayments will stop if your income drops below £21,000 a year.
Your annual repayment will be 9% of any income you earn over £21,000.
| Income each year before tax | Monthly Salary | Monthly Reports |
| Up to £21,000 | £1,750 | £0 |
| £22,000 | £1,833 | £7 |
| £25,000 | £2,083 | £30 |
| £30,000 | £2,500 | £67 |
| £35,000 | £2,917 | £105 |
| £40,000 | £3,333 | £142 |
