Individual lifelong learning accounts (ILLAs) promise to improve the way postschool education and training is financed in the United Kingdom. ILLAs should comprise three distinct functions: save to learn (all individuals would be allowed to save into a special account dedicated to learning); borrow to learn (account holders could borrow for learning through overdrafts or medium-term loans); and credit to learn (account holders would be allowed to gather vouchers or credits to buy or partially pay for specified learning). ILLAs would be held and operated by individuals on a lifelong basis, and only the individual ILLA holder would have the authority to use the account for spending on learning. The proposed model for ILLAs would allow single learning transactions to be financed with funds from savings, loans, and vouchers/credits. The proposed ILLA system would encourage individual commitment to learning, support the development of social commitment to learning, and give lifelong learners a long-term stable financial context in which to seek guidance and pursue a progressive learning plan. Britain's government has shown considerable interest in the potential of voluntary ILLAs and will likely develop a three-function prototype ILLA infrastructure aimed at people in the workplace. (Contains 11 figures) (MN)