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 The Learning and Skills Council for the full story.
To apply, call the Learning and Skills Council on 0800 585 505.
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?
Typical ExampleBorrowing £4,500 for a 12 month course:
- loan Amount: £4,500
- repayable by 24 monthly payments of £206.67
- total amount payable: £4,960.08 9.9% APR typical.
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 2009 and repayments commence on 1st November 2010. 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)
- Terms and conditions (PDF - 0.2Mb)
- Summary Box (PDF - 0.5Mb)
The Financial Services Authority's tools can help you with budgeting, borrowing and planning for the future: Try their Financial Healthcheck or Debt Test.
