Advanced Learner Loans
If you’re planning to study at level 3 – 5 then you may qualify for 19+ Advanced Learner Loans. This is a loan that will help you to fund your course while you learn. With Advanced Learner Loans there is nothing to pay back until you earn over £25,000 a year.
Full Guide – 19+ Advanced Learner Loans
If you are studying level 2-5 then your course could be 90% funded by the government. This will require a 10% payment contribution from your employer towards your qualification. However, this doesn’t need to be made in one payment and can be spread out with a monthly payment plan to suit your needs.
The Apprenticeship Levy
The apprenticeship levy is a levy on large employers, to fund new apprenticeships. UK based employers with a pay bill over £3 million are required to invest in Apprenticeships. Employers will pay a levy which is expected to be 0.5 per cent of your pay bill. This will be paid into a central fund where you’ll access vouchers to fund the training of your own apprentices. You’ll receive an allowance of £15,000 to offset against your levy payment. This will allow you to train existing staff or recruit apprentices using funds that will be located in your digital account. After 18 months these funds will expire.
You can calculate your Apprenticeship Levy expenses using an Apprenticeship Levy Calculator.
Full Guide – Apprenticeship Levy Guide