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

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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Comments

  • silvercar
    silvercar Posts: 46,948 Ambassador
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    Will miss it by a year! :(
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • IAMIAM
    IAMIAM Posts: 1,202 Forumite
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    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!


  • Would this apply to returning students in AY 25/26 who are already on a Plan 5 loan?
  • Ed-1
    Ed-1 Posts: 3,889 Forumite
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    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 anEd-1 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
    Ed-1 Posts: 3,889 Forumite
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    edited 11 March at 6:18PM
    Does it mention that anEd-1 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
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