A Career Development Loan is a deferred repayment bank loan to help you pay for education or training. You can borrow between £300 and £8,000 to help you fund up to two years of training.

The Department for Education and Skills (DfES) pays the interest on the loan while you’re training and you do not have to repay anything until one month after the end of the training period. You can then repay the loan to the bank over an agreed period at a fixed rate of interest.

Increased salaries through your higher qualification can often offset these payments. CDLs are available through four major banks: Barclays, Clydesdale, The Co-operative and The Royal Bank of Scotland.

Call the Freephone Career Development Loan Information Line on 0800 585 505 between 8am and 10pm Monday to Sunday.