Professional and career development loans (PCDL)
- Name of the instrument - Local language
- Professional and career development loans (PCDL)
- Name of the instrument - English translation
- Professional and career development loans (PCDL)
- Scheme ID
- 215
- Country
- United Kingdom
- Reporting year
- 2020
- Type of instrument
- Loan
- Sub-type of instrument
- Loan for HE expanded to adults
- Type of entry
- Single instrument
- Short description
A Professional and Career Development Loan is a commercial bank loan to help learners pay for learning that leads to their employment. Only individuals who have been unemployed for at least three months before starting the course are eligible for this loan. The maximum amount that a learner can borrow with a Professional and Career Development Loan is GBP 10 000 (approx. EUR 11 879). Up to this limit, a learner can borrow 100 % of the course fee only if they have 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, they will only be able to borrow a maximum of 80 % of their course fees. While they are in learning, and for up to one month afterward, the Skills Funding Agency will pay the interest on the loan.
- Level of operation
- Part of the country
- Name of a part of the country
- Scotland
- Name of the region (for regional instruments)
- Not applicable
- Name of the sector (for sectoral instruments)
- Not applicable
- Relevance
- Key instrument
- Year of implementation
- 1998
- Year of latest amendment
- 2009
- Eligible group(s)
- Learners that are eligible to take such loans are learners: - aged 18 years old or over at the point of application 'settled' in the UK, and ordinarily resident in the UK for at least the three years before the start of their learning programme - intending to work in the UK, the EU or the EEA (European Economic Area) when the course finishes.
- Group(s) with preferential treatment
- Individuals who have been unemployed for at least three months before starting the course
- Education and training eligible
- Learners can use the loan for 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. The loan can be used to cover up to two years' study, plus up to one year's practical unpaid work experience, if that is part of their course. It cannot be used to support a learner undertaking their first degree at university.
- Source of financing and collection mechanism
- The Skills Funding Agency pays for the interest on the loan while the learner is studying.
- Financing formula and allocation mechanisms
- The maximum amount that a learner can borrow with a Professional and Career Development Loan is GBP 10 000 (approx. EUR 11 879). Up to this limit, a learner can borrow 100% of the course fee only if they have 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, they will only be able to borrow a maximum of 80 % of their course fees.
- Volumes of funding
- Not available
- Beneficiaries/take up
- Not available
- Organisation responsible for monitoring/evaluation
- Skills Funding Agency
- Most relevant webpage - in English
- https://www.gov.uk/career-development-loans/overview
- Most relevant webpage - local language
- https://www.gov.uk/career-development-loans/overview
- Recent changes
2009
- Sources
- https://www.gov.uk/government/uploads/system/uploads/attachment_data/fi…
- https://www.gov.uk/government/uploads/system/uploads/attachment_data/fi…
On this page:
- Short description
- Level of operation
- Name of a part of the country
- Name of the region (for regional instruments)
- Name of the sector (for sectoral instruments)
- Relevance
- Year of implementation
- Year of latest amendment
- Eligible group(s)
- Group(s) with preferential treatment
- Education and training eligible
- Source of financing and collection mechanism
- Financing formula and allocation mechanisms
- Volumes of funding
- Beneficiaries/take up
- Organisation responsible for monitoring/evaluation
- Most relevant webpage - in English
- Most relevant webpage - local language
- Recent changes
- Sources