Career Development Loans

"I wanted to further my skills and needed a way to pay for my training. A Career Development Loan was ideal."

If you want help paying for your training, a Career Development Loan (CDL) could be the answer.

The deferred repayment loan covers a wide range of vocational courses lasting up to two years, plus, if relevant, a maximum of one year's practical experience where it is part of the course. Study can be full-time, part-time, open or distance learning. CDL's can support up to 24 months of a longer course (plus the one year's practical experience, if relevant).

You can apply for a loan of between £300 and £8,000 to cover:

• up to 80% of your course fees (if you've been out of work for three months you may be able to borrow the full cost of your course fees)
• other costs such as books and living expenses

You make no repayments while you're studying - the Learning and Skills Council pays the interest on your loan for up to one month after your training course (by this time you will have hopefully found a new job so that you can take over the repayments yourself). If one month after completing your training, you're registered unemployed and in receipt of Jobseeker's Allowance, you may apply to the bank to defer repayment for up to a further five months.

CDL's are available through four major banks - Barclays, The Co-operative, Clydesdale and the Royal Bank of Scotland. Your study should be job-related and you should not be supported financially by any other organisation or be receiving a mandatory grant.

A free CDL information booklet, containing all the details you will need as well as an Application Form, is available by calling free on 0800 585 505 between 9am and 9pm Monday to Friday. Or ask at your local Jobcentre, SLC/LEC, college or training centre.