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Professional and Career Development Loan

Applicants must:

  • be UK residents
  • be aged between 18 and 69 years of age
  • not had any County court judgments (CCJs), been declared bankrupt or defaulted on any credit agreement in the last 6 years.
  • plan to work in the UK, European Union (EU) or European Economic Area (EEA) after the course
  • not have reasonable or adequate access to funds to pay for the course yourself

Courses must:

  • only last up to 2 years, or 3 years if they include 1 year of work experience
  • be provided by an organisation on the Professional Career and Development Loan Register - check with your course provider
  • help with your career - they don’t have to lead to a qualification

Take a look at the Skills Funding Agency for the full story.

To apply, call the Professional and Career Development loan helpline.

They will send you an application pack and can provide further information and advice.

A Professional and Career Development Loan from The Co-operative Bank helps to finance your studies and improve your career prospects.

  • Borrow between £300 and £10,000 helping you fund a course to improve your career prospects and earning potential
  • Relax while the government pays the interest during your studies and for up to one month afterwards
  • Repay your Professional and Career Development Loan over 1 to 5 years, only paying it back after you've completed your course
  • Enjoy fixed repayments on your Professional and Career Development Loan once your loan has been agreed

How much will a Professional and Career Development Loan cost?

Representative example

Borrowing £4,500 with a fixed interest rate of 9.58% per annum for a 12 months course:

  • 9.9% APR
  • 24 monthly payments of £206.67
  • total amount payable: £4,960.08

This APR is pro-rated over the entire period of the loan e.g. 13 months interest free, plus 24 months at 9.9%. This example assumes that the course runs for 12 months, starting 1st September 2013 and repayments commence on 1st October 2014. Your payments remain fixed when the loan is agreed. Interest-free for up to one month after the end of the course. You pay back nothing until two months after your course is complete. You can repay the loan over a period of 12 to 60 months.

To apply, call the Professional and Career Development loan helpline.

Important documentation

(Documents will open in a new window)

Please make sure you read this important information before you purchase this product to ensure that it meets your needs. The useful documents below will provide you with all the details you need to make your decision.

Credit facilities provided by The Co-operative Bank p.l.c. are subject to status. The Co-operative Bank reserves the right to decline any application or offer a loan at a rate that differs from those advertised.