Charities, trust funds, bursaries and scholarships are alternative sources of funding which might be available to you. Check with your local library, as they will hold an index in their reference section. You can also contact the Student Funding Unit, as although we don't hold a comprehensive list, we will be able to offer some guidance.
Commercial credit may be your only option to fund a course, particularly at postgraduate level. Many banks offer a government-backed educational loan scheme.
Professional and Career Development Loans are bank loans that can be used to help pay for work related learning. You can borrow between £300 and £10,000 to help support the cost of up to two years of learning (or three years if it includes one year’s relevant unpaid practical work). The Government will pay the interest on the loan while you are learning and for one month afterwards. You will then need to start repaying the loan as you would any other commercial loan product. You can use the loan to pay course fees or other costs such as travel and living expenses. You can also use the loan to supplement other forms of support such as grants or bursaries. As the Professional and Career Development Loan is a commercial loan product, you should make sure you have investigated all the funding options that may be open to you to ensure you take an informed decision about whether the loan is right for you. For further information on financial assistance to support your learning, please visit the GOV.UK website or contact the National Careers Service on 0800 100 900. Our learning provider registration number is: 3313.
If you wish to consider such a loan, you are advised to approach your bank and explore your options with one of the bank's student advisors.
You are also strongly advised to seek independent financial advice and not make any final decisions or sign any documents until you are completely clear about the terms and conditions of such borrowing. Have a look at the advice provided here to find out if a career development loan is for you.
You must remember that this is a bank loan and repayments cannot be deferred in a similar way to student loans.