Career Development Loans
If you are thinking of applying for a career development loan, please make sure to do it before the 25th January 2019 after which time the loan will no longer be available.
To qualify you must apply 8 weeks before your course starts to give your bank enough time to process your application. If you apply more than 8 weeks ahead your application will not be accepted. Please be aware that if you apply on the 25th January 2019 your course must start before the 24th March 2019.
You can pay for your C&G 2365 Course Packages using a Professional Career Development Loan. Find out what this is, how it works and how to apply below:
What is a Professional Career Development Loan?
A Professional and Career Development Loan is essentially a bank loan designed for people changing careers. It is only available for courses which lead directly into employment. If your application is successful the Skills Funding Agency pays the interest while you are in learning and for one month afterwards. After this time you will start repaying the loan to the bank in the usual way.
Important note: a Professional and Career Development Loan must be repaid to the bank that has agreed to offer the loan, in the same way as any other commercial loan. If you drop out of the course then you will still be liable to pay the full amount.
The loan is currently offered by the Co-operative Bank and for details on interest rates and eligibility please visit this page.
Which courses can it be used for?
With Trade Skills 4U we currently have approval for customers to pay for the C&G 2365 Diploma Course Package with the loan. We also have limited spaces on each course so please contact us to discuss if we have loans available on your chosen start date. The loan can be used for some or all of your course costs including books.
How does it work?
We have pulled together some useful resources about Professional Career Development Loans here:
Important note: We will not advise you to take out a loan. It is your responsibility to fully research the loan before deciding to make an application. If you do take out a loan you are responsible for making the payments for this loan once the course is finished and it should be looked at in the same way as taking out any kind of private finance.
How do I apply?
1. Firstly we suggest speaking with a course advisor on 01293 529777 at Trade Skills 4U to ensure we have loan availability on your chosen course dates.
2. If we do then you can make an application for the loan here: https://www.gov.uk/career-development-loans/how-to-apply
3. Once you make your application you should receive a course start notification form. Forward this to us so we can complete our details and the dates of your course and provide you with trainee reference. We will then return it to you and this must be submitted to the Co-op bank who will then finalise your application.
4. You will then receive a final agreement form from the co-op bank confirming the amount and details of your loan. We must see a copy of this form to formally book you onto the course.
5. When the course starts the money for the course will be paid directly to Trade Skills 4U.
6. If for any reason your course dates changes then you will need to notify the provider of the new dates to ensure they match your application.