Money Matters - Career Development Loans

This is a deferred repayment bank loan to help pay for vocational education or training.

You will be able to borrow between £300 and £8000 to help you fund up to two years of training (plus a year's work experience). This can cover up to 80% of course fees (and 100% if you have been out of work for three months or more before applying).

While you are training, and up to one month afterwards, the Department for Education and Skills (DfES) pays the interest on your loan.  You take on this responsibility when you have completed your training and agree a repayment period with your bank.

CDLs are available through the following banks:

• Barclays
• Co-Operative
• Royal bank of Scotland

For an information pack and application form write or ring:

CDL,
Freepost,
Newcastle Upon Tyne,
NE85 IBR
0800 585 505

OR

You can order a Career Development Loan information leaflet called "A Brief Guide", or an application pack from Job Centres, careers advisers and colleges.  You can also get the information at www.lifelonglearning.dfes.gov.uk/cdl

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