MSE News: 'Lifelong loans' to launch in 2025 for those in England wanting to study later in life

MSE_Petar

People in England aged up to 60 who want to study, train or retrain will be able to access flexible student finance to help them do so from 2025, the Government has confirmed today. The new higher education loan scheme, dubbed the 'lifelong loan entitlement', will be worth the equivalent of four years of post-18 education.

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''Lifelong loans' to launch in 2025 to help those in England wanting to study, train or retrain later in life'

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silvercar

Will miss it by a year!

IAMIAM

I just think this is a total rip off. You are effectively given 40k for 4 years study and asked to pay a higher tax for life at a rate that is ridiculous. 

I would contemplate doing this at 55 and retiring early and becoming a student, knowing full well I won't pay any back!

travelling_muon

Would this apply to returning students in AY 25/26 who are already on a Plan 5 loan?

Ed-1

travelling_muon said:

Would this apply to returning students in AY 25/26 who are already on a Plan 5 loan?

Only if starting a new course from 25/26.

travelling_muon

Does it mention that anEd-1 said:

travelling_muon said:

Would this apply to returning students in AY 25/26 who are already on a Plan 5 loan?

Only if starting a new course from 25/26.

Does it mention that anywhere on the website or the bill? Wouldn't that be pointless since I could drop out and get a potentially greater learning enietlement than someone who didn't drop out?

Ed-1

travelling_muon said:

Does it mention that anEd-1 said:

travelling_muon said:

Would this apply to returning students in AY 25/26 who are already on a Plan 5 loan?

Only if starting a new course from 25/26.

Does it mention that anywhere on the website or the bill? Wouldn't that be pointless since I could drop out and get a potentially greater learning enietlement than someone who didn't drop out?

No-one currently on a course will get a greater entitlement than the current Higher Education Student Finance by dropping out and restarting, unless they currently have no entitlement (e.g. due to previous study) but would have a residual entitlement on the LLE.

For returning learners starting a new course from 2025/26, deductions will be made from the £37,000 tuition fee loan entitlement according to the below methodology to calculate a residual entitlement:

https://www.gov.uk/government/publications/how-much-lifelong-learning-entitlement-you-could-get

https://www.gov.uk/government/publications/lifelong-learning-entitlement-lle-overview/lifelong-learning-entitlement-overview

https://www.heinfo.slc.co.uk/lle/lle-faq/lifelong-learning-entitlement-faq