Financial Support for Higher Education
Helping you to understand the finance options available to you
Introduction to support
Here at Lakes College, we are committed to offering an accessible and easy-to-understand financial support service. Our team are on hand to offer their support regarding funding options and availability for learners, regardless of how old they are. From bus passes to higher education loans, we’re here to help.
Financial support options
If you’re aged 19 or over and you want to study A Levels, an Access to Higher Education Diploma, or a Level 3 to 6 Vocational Qualification, you’ll need to pay your college or training organisation for the cost of your course.
The Advanced Learner Loan is a government-funded loan to help learners. It’s easy to apply for, doesn’t take your household income into account and doesn’t involve a credit check.
Most learners aged 19 or over who apply will qualify for these loans from the UK government, through Student Finance England (SFE). You can apply for an Advanced Learner Loan online.
Key facts:
- Your household income isn’t taken into account
- There’s no credit check
- You won’t have to pay anything back until your annual income is over £25,000, if your income drops below this amount repayments stop.
- Each month you pay back 9% of any income over £25,000.
Example
| Your income per year | Monthly income | Monthly repayments |
| Up to £27,295 | £2,274 | £0 |
| £28,000 | £2,333 | £5 |
| £30,000 | £2,500 | £20 |
| £34,000 | £2,833 | £50 |
| £36,000 | £3,000 | £65 |
Click here to find out more about how to apply
Click here to read a guide on how and when to repay
Your step-by-step guide on how to apply:
- Choose one of our eligible courses
- Apply for your chosen course online or complete an application form
- Attend an interview and receive an acceptance letter
- The College will provide you with details of how to apply for the loan. You cannot apply for the loan until you receive a ‘learning and funding information letter’ from the College
- Apply for your loan online – if you have a valid passport your loan can be approved in minutes.
- You will receive a letter from Student Finance England (SFE) to tell you if you have been approved
- Start your course – September onwards
- The College will inform SFE of your attendance after two weeks
- SFE pay the loan direct to the college for your fees
For further information, contact our Student Services team on 01946 839300 or visit the National Careers Service website. You can also apply online here.
| Course/ Level | 2024-25 | ||
| Fee Total | Per Year | Part Time 18m Courses Yr 1 or 2 | |
| HNC Part Time Not Engineering/NCfN Part Time (18 months) | £4,500 | £3,000 | £1,500 |
| HNC Full Time Not Engineering/NCfN Part Time (1 Year) | £4,500 | £4,500 | |
| HND Part Time Not Engineering/NCfN Part Time (18 months) | £4,500 | £3,000 | £1,500 |
| HND Full Time Not Engineering/NCfN Part Time (1 Year) | £4,500 | £4,500 | |
| HNC Engineering/NCfN Part Time (18 months) | £5,000 | £3,333 | £1,667 |
| HNC Engineering/NcfN Full Time (1 Year) | £5,000 | £5,000 | |
| HND Engineering/NCfN Part Time (18 months) | £5,000 | £3,333 | £1,667 |
| HND Engineering/NCfN Full Time (1 Year) | £5,000 | £5,000 | |
| HNC Full Time (1 Year) Lancaster & Morecambe Provision | £5,500 | £5,500 | |
| HND Full Time (1 Year) Lancaster & Morecambe Provision | £5,500 | £5,500 | |
| Foundation Degree Part Time (3 Years) | £12,000 | £4,000 | |
| Foundation Degree Full Time (2 Years) | £12,000 | £6,000 | |
| PGCE Full Time | £5,950 | £5,950 | |
| BSC (Hons) Degree Full Time | £6,000 | £6,000 | |
| BSC (Hons) Degree Part Time (2yrs) | £6,000 | £4,000 | £2,000 |
| BEng (Hons) Degree Full Time | £6,000 | £6,000 | |
| BEng (Hons) Degree Part Time (2yrs) | £6,000 | £4,000 | £2,000 |
Click here to download a PDF version of fees.
Did you know there is financial help available if you want to go to study one of our Higher Education courses? So you don’t have to pay for course fees up front!
Find out more about how and when to apply for student finance here.
Tuition Fee Loan
English or EU full-time or part-time students can apply online to Student Finance England for a tuition fee loan. This is paid directly to the College on your behalf.
Maintenance loans and grants (full-time students only)
Tuition fee loans pay for your course. Maintenance loans and grants help with living costs (e.g. accommodation, books and bills). Tuition fee and maintenance loans are repayable but maintenance grants are not. Your repayments are linked to your income. You only make repayments when your income is over £25,000 a year. If your income drops below this amount repayments stop.
Each month you pay back 9% of any income over £25,000.
Monthly loan repayments
| Your income per year | Monthly repayments |
|---|---|
| £27,295 and under | No repayments |
| £28,000 | £5 |
| £31,000 | £27 |
| £33,000 | £42 |
After 30 years, if you have not paid back your loan any outstanding balance will be written off.
How to apply
Apply online to Student Finance England https://www.gov.uk/student-finance
For more information on estimating what your loan repayments will be visit
http://www.studentloanrepayment.co.uk/scheme/rep/repayment-calculator/sfe/
If you are a full-time Higher Education student and have received your full maintenance loan entitlement but are experiencing financial hardship, you may be eligible for a hardship bursary. For more information, email studentfinance@lcwc.ac.uk or call 01946 552709.
Did you know there is financial help available if you want to study one of our higher education courses?
Find out more about how and when to apply for student finance here.