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What’s happened to Career Development Loans?

Career Development Loans (CDLs) have been replaced by Professional and Career Development Loans.

Like CDLs, Professional and Career Development Loans are bank loans that can be used to help pay for learning. However, the conditions of the loan are different.

• Professional and Career Development Loans: what are they?

If you’ve taken out a CDL, you’ll have to pay it back

You can’t apply for a Professional and Career Development Loan if you already have a CDL for the same course.

If you have signed a credit agreement with a bank to take out a CDL, you’ll still have to repay it under the terms you agreed with the bank.

However, you’ll be able to apply for a Professional and Career Development Loan if you start a new course – if you’ve paid back your CDL.

• Repaying a Professional and Career Development Loan

You may still be able to ‘top up’ your CDL

If you need extra funds, your bank may be willing to extend your existing CDL. Get in touch with them to find out.

The limit on what you can borrow through a CDL is £8,000, and you can’t switch to a Professional and Career Development Loan in order to borrow more.