Professional and career development loans (PCDL)

To help learners to pay for learning that leads to work; to enhance their skills and improve their career prospects.

Skills Funding Agency is the government body responsible for administering the PCDL scheme.

Individuals aged 18 years old or over at the point of application; ‘settled' in the UK, and ordinarily resident in the UK for at least three years before starting their learning programme, intending to work in the UK, the EU or the EEA when the programme finishes; not having access to other options for funding.

Learners who have been unemployed for at least three months before starting the course

Full-time, part-time or distance-learning courses such as the following: specialist courses at private institutions, management or technician level training, diplomas, postgraduate courses. Education and training must be delivered by training provider included in PCDL register.

Commercial banks (current financing - providing loans)
The Skills Funding Agency (pays for the interest on the loan while the learner is studying)
Individual (repayment from future income)

Learners can apply for any amount between GBP 300 and GBP 10 000.

Learner can borrow 100 per cent of the course fee only if he/she has been registered as unemployed for at least three months before starting their course. If a learner has not been registered as unemployed for at least three months, he/she will only be able to borrow a maximum of 80 per cent of the course fees.

While the learner is in learning, and for up to one month afterwards, the Skills Funding Agency will pay the interest on the loan. Learners then start to repay the loan to the bank at a fixed rate of interest.

Learners can avoid paying any interest on the loan if they repay the amount before they finish their course. Where repayments have started but the learner chooses to repay the loan before the full term, a settlement payment will apply on any outstanding interest that has accrued.

Allocation: Learners aply to participating bank which determines if they fulfill the criteria for receiving a loan.

Fees and other costs of education and training (including books, childcare, travel, living expenses such as rent or food).

Only once

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Skills Funding Agency.

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https://www.gov.uk/career-development-loans/overview

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https://www.gov.uk/government/uploads/system/uploads/attachment_data/fi…

https://www.gov.uk/government/uploads/system/uploads/attachment_data/fi…