The new Lifelong Loan Entitlement (LLE), due to start in 2025, is a major and positive improvement to how the student support system in England enables lifelong participation in higher education. It also has the prospect of commanding cross-party support, at least in broad design if not in the detail. However, in this timely Policy Note, Rose Stephenson raises important questions about how it will work. The LLE is part of the Government's reforms to post-18 education and training in England. It will offer students a loan equivalent to four years' worth of tuition fees (currently £37,000), which can be used flexibly over their working lives. This can be used to pay for short courses, modules or full courses at colleges or universities. The Lifelong Loan Entitlement has five main objectives, which are presented in this report: (1) to enable greater parity of access between technical and academic courses; (2) to fund modules regardless of whether they are provided in colleges or universities; (3) to ensure that credit-bearing provision will support flexible, lifelong learning; (4) to transform the way learners access funding to enable learners to study, train, retrain or upskill at any stage in their lives; and (5) to encourage individuals to train, retrain and upskill in response to changes in labour markets and employment patterns. [Foreword written by Professor Tim Blackman. This report was produced with The Open University.]