Stuck-in-a rut Britons head back to school

It’s not just the kids who are heading back to school this September. Latest research from Abbey Loans finds that over ten million (22 per cent) British adults plan to undertake an educational course outside of their current job in the next twelve months.

While 35 per cent are doing so to further their current career, 3.8 million (38 per cent) plan to study a subject that will help them get out of the rut they’re stuck in - and change their career entirely. And in some cases drastically.

Indeed the severest career makeover plans cited by respondents included: shop assistant to forensic technician; pension’s administrator to photographer; import manager to author; university lecturer to pilot; machine operator to lifestyle coach and finally a scaffolder that plans to retrain as a feng-shui teacher.

The most popular way to fund an after-hours education is to raid the piggy bank – with 41 per cent planning to dip into their savings. 23 per cent plan to get by on a monthly allowance, while 18 per cent say they’ll be assisted by a Government grant.

200,000 (two per cent) won’t let the absence of readily available funds stop them from hitting the books and instead are planning to take out a personal loan to learn.

Paul Morrish, Head of Abbey Loans commented: “With so many of us planning to undertake an extra curricular course in the next twelve months, it’s clear that Briton’s have a strong desire to keep on learning. It’s also great to see that so many people stuck in jobs they’d rather not be in, have the will to do something about it while they can.”

Paul Morrish, Head of Abbey Loans continued: “As a major high street bank Abbey lends money to enable thousands of Brits to undertake their studies and follow their dreams each year. And with competitive rates, starting at 7.9 per cent APR on Internet loans, we’re doing all we can to keep the costs of learning low.”

For more information, log on to abbey.com/loans.