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Career Development Loans can help you to get vocational training and experience to help you progress.
Career Development Loans are backed by the government and available through three high street banks - The Cooperative Bank, The Royal Bank of Scotland and Barclays Bank. They are loans of between £300 and £8000 to pay for up to two years' of vocational education or training. Study can be full time, part time or by distance learning. No repayments are made during the period of training and for one month afterwards. After this you would become responsible for paying the loan and any further interest.
Eligibility for a Career Development Loan and acceptance onto a course do not guarantee approval of a loan, as the banks have the right to refuse applications. The bank cannot release the funds until your learning provider has confirmed that you have started the course.
To find out more about Career Development Loans check out the Direct Gov website.
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