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24+ advanced learning loan
rachael_kell
Posts: 10 Forumite
in Loans
Hi everyone, really hoping somebody can help me, I'm allpying for a 24+ advanced learning loan and there are two things in the T&C's that I don't fully understand:
If you're studying an Access to Higher Education diploma, then go on to complete a higher education course, your 24+ Advanced Learning Loan is written off.
You start paying the loan back when you earn £21,000 a year or more. Interest is charged at RPI+3% while you're studying, then at RPI.
What does RPI mean? And also the first paragraph in it's entirety is confusing me somewhat.
Any help would be appreciated!
A rather confused Rachael.
If you're studying an Access to Higher Education diploma, then go on to complete a higher education course, your 24+ Advanced Learning Loan is written off.
You start paying the loan back when you earn £21,000 a year or more. Interest is charged at RPI+3% while you're studying, then at RPI.
What does RPI mean? And also the first paragraph in it's entirety is confusing me somewhat.
Any help would be appreciated!
A rather confused Rachael.
0
Comments
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RPI is the Retail Price Index - its basically an inflation rate.
Relating to the first sentence - that is only relevant if you are doing an Access course - are you? If you are and you get a loan to pay towards the the Access course and then following that go to Uni and finish Uni and get a degree then the first loan for the access course is wiped out.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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