Advanced Learner Loans Good or Bad

Are UK Study Loans A Good Idea? | Advanced Learner Loans

UK residents aged 19 years or older have the opportunity to obtain nationally recognised diplomas in a ‘study now pay later’ scenario. But is this model a good idea for everyone considering furthering their career and education?

For the past three years, I have been working with a similar education model in Australia and these are my findings as to whom the scheme works best for, and who it does not.

Let me use the example of the highly sought after Leadership & Management Diploma. The individual who will benefit from pursuing this diploma under the UK Governments 19+ Advance Learning Loan program has the following attributes:

  • They are employed in consultant, team leader and supervisor type positions.
  • They are dissatisfied with their current salary, the level of responsibility and/or the competency of the manager(s) they report to.
  • They want to make something of themselves and make a difference in their circle of influence.
  • They no longer want to be overlooked for promotions. They want to be taken seriously.
  • They are not content with the status quo, they see there is a better way to do business and they want to lead the way for a change.

What these attributes demonstrate is an inner drive and motivation to follow through. To not only commence a qualification but to actually complete it.

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Continuing with this example of the Leadership & Management Diploma, the people I do not recommend pursue this type of qualification have these attributes:

  • They are happy and content with their current position and have no desire to move up the ranks.
  • They are currently unemployed (employers are unlikely to hire a person based solely on the completion of this diploma. More often than not people are promoted internally for management roles. Therefore focus on these people is best put elsewhere).
  • They are enrolled in one or more other qualifications (this diploma requires your full attention. You are unlikely to finish it if you have too much on your plate).

In summary, these study now pay later diplomas that are available via the UK’s 19+ Advance Learning Loans are not for everyone. A person needs to be fully committed to pursue a qualification and see it through to completion.

It’s not like buying a piece of furniture that you can receive benefit from immediately. Not at all. The benefit only comes once you have put in the study hours and said no to some social engagements so you can complete your study modules.

What are your thoughts? Have you heard about these 19+ Advance Learning Loans before?

Jon Gardner

P.S. Are you looking to build your leadership and management capabilities? A Level 7 Diploma Strategic Management will give you the credibility you need to go to the next level in your career. Learn more here: https://studycompass.co.uk/level-7-diploma-strategic-management/