How does funding work for CPBA courses?
At Candor Professional Beauty Academy, we offer Level 2 and Level 3 courses.
If you choose doing a Level 2 course, you can be fully funded or Co-funded by the government.
While if you choose enrolling in a Level 3 course, you can apply for a 19+ Advanced Learner Loan to cover the cost of the training.
Eligibility
In order to be eligible for any funding, you must be a citizen of a country within the European Economic Area or have the Right to Abode in the UK AND have been ordinary resident in the EEA for at least the previous 3 years on the first day of learning.
The European Economic Area includes the EU countries, also Iceland, Lichtenstein, Norway and Switzerland.
And remember, if you have been living in any other countries apart from these listed in the past 3 years, you won’t be eligible for the funding.
In order to get funding for a Level 2 course, you must be 19 years old before the academic year starts.
The academic year is from September to August.
Therefore, you have to be 19 by 31st August to get funding for a course starting in the next academic year.
How can your course be fully funded?
Fully funded means that you do not have to pay anything for the course, the government covers the cost of training. Note, that the funding does not cover the cost of uniform or kit.
You can get fully funding if you are between 19-23 and this is your first full Level 2 qualification, or you are above 24 but unemployed or has low wage.
Co-funded
If you do not meet these requirements, your course will be co-funded.
To understand the conditions, let’s look at some important terms.
Unemployed
Unemployed, if one or more of the following apply:
- They receive Jobseeker’s Allowance (JSA)
- They receive Employment and Support Allowance (ESA) and are in the work-related activity group (WRAG)
- They receive Universal Credit and are in one of these groups:
- Work Related Requirements Group
- Work Preparation Group
- Work-focused Interview Group
Low wage
Also, you can be fully funded if you earn less than £15,736.50 a year. In this case, you need to show evidence of your annual gross salary.
It can be a
- Wage slip or bank statement dated within 3 months of your start date
- Current employment contract which states gross annual/monthly wages
- Or if you are self-employed, then Annual Tax Summary or SA302
So, what happens if you are co-funded?
You will need to contribute towards your training with a £100 registration fee.
Don’t forget, that the funding doesn’t cover the cost of your kit and uniform.
Level 3 course
Government funding is available for L3 qualifications through Student Finance
You can apply for a 19+ Advanced Learner Loan to help with the cost of your course.
Loan eligibility does not depend on your income and there are no credit checks.
It is not a problem if you already have a loan used for another training or if you want to do more than one course in the future as you can apply for up to 4 advanced learner loans.
Extra eligibility criteria
Apart from you being an EEA citizen and resident in an EEA country in the past 3 years, eligibility criteria is that you must be 19 or older on the first day of your course. If you choose attending a Level 3 Hairdressing course, you have to be 24 by 31st August to be approved in the next academic year.
You also must have a National Insurance number in order to get the loan.
How to apply?
Our team will help you to apply for the loan. You cannot apply before your course starts as you need to receive your funding letter with the relevant information.
If you already applied for a student loan before, you will need to use the same account, so please make sure that you have your login details.
Please note, that if you are not a UK national, you will have to send your original ID or passport to the Student Finance Agency that you will receive back in about 2 weeks.
The loan is paid directly to the training provider.
Repayments
You only have to pay back your loan when you finish your course and earn more than £25,000 a year.
Your repayments will stop if your income drops below this amount.
Your annual repayment amount will be 9% of any income you earn over £25,000.
Let’s see an example of the repayment amount.
Your monthly repayments would be £15 if you earned £27,000 a year.
If you earned £30,000 a year, this amount would be £37 a month.
What will happen if you leave or change your course?
You’ll have to pay back any money that’s been paid to your college or training provider plus interest if you leave or change your course after 2 weeks or more.