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Other Sources of Funding
Career Development Loan
If you cannot get assistance from SAAS, or any other public funding to help pay for the course you want to do, you may be able to apply for a Career Development Loan ( CDL).
CDLs are managed in partnership with a number of high street banks and can support a wide range of vocational courses.
A CDL can support any type of part-time or distance-learning course as long as it:
- is related to a job (not necessarily to a current job)
- lasts no more than two years plus up to one year's practical experience that is part of the course, where relevant.
You can borrow from £300 to £8,000 and use the loan to cover up to 80% of your course fees plus all your related expenses - including books, childcare, travel expenses and any costs associated with disability.
If you have been out of work for three months or longer at the time of application, you can apply for a CDL to cover 100% of your course fees.
You will not have to make any repayments while you are training and for up to one month afterwards (or up to 17 months if you are unemployed when repayments are due to start). During this time, the government will pay the interest on the loan for you. At the end of this period, you become responsible for the loan repayments and any further interest.
Career Development Loan
For more information on CDLs, phone the CDL helpline on 0800 585 505, or visit their website at www.direct.gov.uk/cdl
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