Professional and Career Development loan
Sorry, we're no longer offering Professional and Career Development loans. If you're an existing customer, your loan is unaffected and you can find out more information on this page.
Information for existing customers
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The rate for a Professional and Career Development Loan is 9.9% APR representative on loans from £300 to £10,000.
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A breakdown of charges and fees involved with having a loan.
Late payment fees
Interest will continue to accrue on the outstanding balance which remains unpaid from when it is due. This will be charged at the annual interest rate for your loan.
Partial and full early repayment charges
If you wish to, you can repay your loan at any time. If your loan was taken out after 10th June 2010 you can also make partial repayments to your loan (in addition to your regular monthly payments).
If you repay your loan early (in part or in full) and the term was one year or less
we may charge you 28 days additional interest.
However, if your loan term exceeded one year when it was made
we may charge you 58 days additional interest.
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How much you'll pay
A fixed amount will be payable each month for the duration of your loan. Repayments will commence one month after your course has ended.
Seeing your repayments
If you wish to, you can repay your loan at any time. If your loan was taken out after 10th June 2010 you can also make partial repayments to your loan (in addition to your regular monthly payments). To arrange this, please contact us and we will give you an early settlement figure.
Paying off early
If you wish to, you can repay your loan at any time. If your loan was taken out after 10th June 2010 you can also make partial repayments to your loan (in addition to your regular monthly payments). To arrange this, please contact us and we will give you an early settlement figure.
If you repay your loan early in full or in part we may charge you:
- 28 days additional interest if your loan agreement was for a term of a year or less at the time it was made, or
- 58 days additional interest if your loan agreement was for a term of more than a year at the time it was made.
Important documents
Professional and Career Development loan summary information
Download Professional and Career Development loan summary information PDF (309KB)Terms and conditions
Download Terms and conditions PDF (286KB)Repaying your loan early information
Download Repaying your loan early information PDF (34KB)How we use your personal information
Download How we use your personal information PDF (622KB)Our lending commitments and what we ask of you
Download Our lending commitments and what we ask of you PDF (115KB)Help for existing customers
Help and information about loans, for our existing customers.
APR (Annual Percentage Rate)
APR is the interest rate calculated across the lifetime of your agreement, including any fees (total cost of credit). You can use it to compare the cost of similar products from other lenders.
Representative
Lending decisions are based on personal circumstances, so the rates we offer may vary between customers. When we advertise our products, we use representative rates to show what the majority of customers may be offered.
Fixed interest rate
The percentage rate charged on a loan is fixed which means you can be sure it won't go up during the duration of your loan.
Per annum
Per annum is a quicker way of saying 'for each year'.APR (Annual Percentage Rate)
APR is the interest rate calculated across the lifetime of your agreement, including any fees (total cost of credit). You can use it to compare the cost of similar products from other lenders.
Per annum
Per annum is a quicker way of saying 'for each year'.
Representative
Lending decisions are based on personal circumstances, so the rates we offer may vary between customers. When we advertise our products, we use representative rates to show what the majority of customers may be offered.
Variable
When a rate is advertised as variable, it means that it could go up or down.
Interest rate
This is the percentage rate charged on a loan.
Fixed interest rate
The percentage rate charged on a loan is fixed which means you can be sure it won't go up during the duration of your loan.
- If you have savings of more than £16,000 available, you will not be eligible for this loan.
- A list of course providers will be provided on the application, however if your course provider is not available on the list, you can make representation to the Skills Funding Agency. Please contact them on 0800 100 900.
Contact us
If you'd like more help & information, you can:
