Asked by: Kwasi Kwarteng (Conservative - Spelthorne)
Question to the Department for Education:
To ask the Secretary of State for Education, what plans he has to introduce a scheme that provides bank loans to pay for work-related courses and training to replace the Professional and Career Development Loan scheme after that scheme closes in January 2019.
Answered by Anne Milton
The majority of prospective Professional and Career Development Loan (PCDL) borrowers in England now have access to statutory loans such as Advanced Learner Loans, postgraduate master’s loans and doctoral loans. Demand for PCDLs has fallen significantly as a result.
Statutory loans offer better repayment terms and greater protections than PCDLs and access to those is not dependent on an assessment of the applicant’s credit history.
There are therefore no plans to replace PCDLs.