A CDL is a government-backed loan provided to help pay for work-related training and is the most popular loan for postgraduate studies. UK and EU students can apply for this loan, and can borrow between £300 and £8,000.
Applications for a CDL are made through one of three high street banks (Barclays, The Co-operative Bank or the Royal Bank of Scotland), and the Learning and Skills Council (LSC) pays the interest on your loan until you finish your course. You do not have to repay anything until one month after the end of your course. You then repay the loan to the bank over an agreed period at a fixed rate of interest. The interest rate depends on how much you borrow and over how long the repayments are made.
If you do apply for a CDL then the bank will check your credit history to decide whether or not you are eligible. To find out more about how this works, including how you can go about improving your credit rating, follow the 'Questions' link on the Experian website, or ask at the Student Support Office. If you are an EU student who has not yet moved to the UK, or have not lived in the UK for long, it is unlikely that you will be eligible for a CDL as you will not have established enough of a credit history.
For further general information about Career Development Loans, visit the CDL website, or call 0800 585 505 to speak to an adviser.
Many high street banks operate a loans scheme aimed at funding professional development, which is similar to CDL loans. Most will not lend to Art and Design students so please check them carefully, however you may be able to plead your case in some instances.
We would not recommend students taking a graduate loan.
This is because they are usually designed for graduates who are not going into postgraduate study. Repayments usually start a few months after taking the loan and always before you have finished your course. This means you could be paying back up to £200 per month whilst you are actually at College.
They cannot be renegotiated during your course.
If you are considering taking a graduate loan, please see the Student Support Office for advice before you sign anything.
International students are not usually eligible for UK loans, except EU students who can apply for CDLs.
International students may be able to apply for loans in their own countries. However, we advise you to ensure that the loan is appropriate for your individual circumstances and that you will be able to keep up with the repayments.
Further information for international students is available at Funding for International Students.