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Professional and Career Development Loan

Prepare yourself for the future

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

Take a look at the Young People's Learning Agency for the full story.

To apply, call the Professional and Career Development loan helpline on 0800 585 505 (Call charges).
They will send you an application pack and can provide further information and advice.

Applicants must be UK residents and aged between 18 and 69 years of age.

How much will a Professional and Career Development Loan cost?


Representative example

Borrowing £4,500 with a fixed interest rate of 9.9% per annum for a 12 months course:

  • loan Amount: £4,500
  • repayable by 24 monthly payments of £206.67
  • total amount payable: £4,960.08 9.9% APR representative.

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 2010 and repayments commence on 1st November 2011. 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.

Please read the following documentation
(these will open as PDFs in new windows)

The Financial Services Authority's tools can help you with budgeting, borrowing and planning for the future: Try their Financial Healthcheck or Debt Test.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

How to apply

Young People's
Learning Agency