Professional and Career Development Loans are bank loans that can be used to help pay for work-related learning. You can borrow between £300 and £10,000 to help support the cost of up to two years of learning (or three years if it includes one year’s relevant unpaid practical work). The Skills Funding Agency will pay the interest on the loan while you are learning and for one month afterwards. The loan can be used to pay course fees or other costs such as travel and living expenses. You can also use the loan to supplement other forms of support such as grants or bursaries.
Because the Professional and Career Development Loan is a commercial loan product, they should only be considered as an option once all other student funding options have been investigated.
For further information on financial assistance to support your learning, please visit https://www.gov.uk/career-development-loans/overview or contact the National Careers Service on 0800 100 900.
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Last updated 12/01/15 KJ