Professional and Career Development Loans

Young People's Learning Agency


A Professional and Career Development Loan is a bank loan. You make an agreement with a participating bank to borrow an amount between £300 and £10,000. Then once you’ve stopped studying, you pay it back in the normal way.

The difference with a Professional and Career Development Loan is that the Skills Funding Agency pays the interest on the loan while you’re studying – and for one month afterwards.

After this, you’ll pay interest at the rate fixed when you took out the loan. Interest rates on the loans are set so they’re competitive with other ‘unsecured’ personal loans that are commercially available.

Currently, banks offer Professional and Career Development Loans at a reduced customer rate of 9.9% per annum, equivalent to a typical APR of 5-6% over the lifetime of the loan. However, interest rates may vary from bank to bank. For further information, consult the participating banks.

At present the two banks participating in the scheme are: Barclays and The Co-Operative.

Funding information


Up to £10,000

Number of awards per year:

Not specified

Funding applies to:
UK applicants only
Funding duration:

Up to 3 years

Contacts and how to apply

Administrative contact and how to apply:

See PCDL website for how to speak to a PCDL adviser and for full application process.

Students can only apply to one bank at a time. Eligibility for a PCDL and acceptance onto a course do not guarantee approval of a loan: the banks have the right to refuse applications.

See individual bank websites via PCDL website. Students should check the likely response time with each Bank before applying.

0800 585 505

Varies: check dates with individual banks.