All HE Courses including the Higher National Certificate (HNC) and Higher National Diploma (HND) programmes offered at the IoT allow you to get undergraduate student finance, known as an HE Loan. A HE Loan will cover your Tuition Fees and will allow you to access a Maintenance Loan to cover your living costs (if required).
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There is a range of financial support available to help you whilst studying. Depending on the programme you are undertaking and your personal circumstances you may be able to access the following:
Higher Education Loan
Advanced Learner Loan
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 yourself.
The Advanced Learner Loan is a way of borrowing money to do this. It is easy to apply for, and does not take your household income into account or involve a credit check.
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 such as the IoT and
• Enrolling on an eligible course at Level 3 and above – includes all the courses at the IoT.
Repayment of your Learner Loan
You will not start to repay your loan until the April after you have completed your course:
1. Loan repayments start when you earn more than £25,000 a year. If you never earn £25,000, you will never make any repayments.
2. Repayments start off as little as £7 per month.
3. You can repay the whole of the loan early if you choose.
4. After 30 years the loan is written off.
All repayments are linked to your earnings, rather than your loan amount. Typical repayments are:
| Income each year before tax | Repayment amounts |
|---|---|
| £21,000 and under | £0 |
| £25,000 | £30 per month |
| £30,000 | £67 per month |
| £50,000 | £217 per month |
For more information about Advanced Learner Loans please visit:
www.gov.uk/advanced-learner-loan
Additional Financial support
You may also be eligible for one or more of these sources of support, depending on your circumstances:
• Adult Dependant Grant – (means tested)
• Parents Learning Allowance – (means tested)
• Childcare Grant – (means tested)
• Disabled Student Allowance – (not means tested).
Money, funding, and finance for Apprenticeships in England
Higher Apprenticeships and Degree Apprenticeships do not charge a tuition fee as this is met by the government and your employer. You study whilst working. As an apprentice, you will be earning money while you learn and will graduate debt free.
Short/ Full-cost courses
Course fees will apply as stated. There is no financial support available to cover the cost of short “full-cost” programmes, although you may be able to pay instalments for most programmes.
