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Professional and Career Development Loan

Professional and Career Development Loan

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
  • The government pays the interest during your studies
  • 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

To apply, call 0800 100 900 (Call charges).

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 Representative
  • 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. 12 months interest free, plus 24 months at 9.9%. This example assumes that the course runs for 12 months, starting 1st September 2014 and repayments commence on 1st October 2015. 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 one month after your course is complete. You can repay the loan over a period of 12 to 60 months.

Helping you decide: important information

Before you apply for an account, you need to be sure it's the right one for you. The following documents supply important product and legal information you need to make a decision.


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 and Career 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 government's student finance website 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.

Money Advice Service tools can help you with budgeting, borrowing and planning for the future: Try their Financial Healthcheck or Debt Test.

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.