Comments on: Career Development Loans http://www.glitec.co.uk/2007/03/career-development-loans/ Loans, Mortgages and Debt Help Fri, 27 Aug 2010 15:14:02 +0100 http://wordpress.org/?v=2.8.6 hourly 1 By: Emma Guildford http://www.glitec.co.uk/2007/03/career-development-loans/comment-page-1/#comment-919 Emma Guildford Tue, 04 Aug 2009 13:04:47 +0000 http://www.glitec.co.uk/?p=758#comment-919 As part of the government's Real Help Now Agenda, Career Development Loans have been renamed Professional and Career Development Loans, to make them more attractive to potential learners. The principal behind the scheme has remained the same: a commercial bank loan to help learners pay for learning/training that enhances their career prospects. The LSC pays the interest on the loan whilst the learner is in learning and for up to one month after they complete their course. However there have been some significant changes: Learners can now borrow any amount between £300 and £10,000 to help support the cost of learning The interest rate for repayment of the loan is now set at a reduced customer rate of 9.9% per annum, equivalent to a typical APR of 5–6% over the lifetime of the loan* Learners with savings of up to £16,000 will now be eligible to apply for the loans At present the two banks participating in the scheme are: Barclays and The Co-Operative Please can you update this section of your website, directing learners to www.direct.gov.uk/pcdl for more information. Thanks for your help Emma As part of the government’s Real Help Now Agenda, Career Development Loans have been renamed Professional and Career Development Loans, to make them more attractive to potential learners. The principal behind the scheme has remained the same: a commercial bank loan to help learners pay for learning/training that enhances their career prospects. The LSC pays the interest on the loan whilst the learner is in learning and for up to one month after they complete their course.

However there have been some significant changes:
Learners can now borrow any amount between £300 and £10,000 to help support the cost of learning
The interest rate for repayment of the loan is now set at a reduced customer rate of 9.9% per annum, equivalent to a typical APR of 5–6% over the lifetime of the loan*
Learners with savings of up to £16,000 will now be eligible to apply for the loans
At present the two banks participating in the scheme are: Barclays and The Co-Operative

Please can you update this section of your website, directing learners to http://www.direct.gov.uk/pcdl for more information.

Thanks for your help

Emma

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