Transport Loan

We will lend you the cost of your travel card and save up to 1/3 of the cost of your travel each month.

What is it?

The Charter Schools Educational Trust offers employees an interest-free annual season ticket loan to cover the cost of public travel between home and the workplace.

The scheme allows employees to make financial savings whilst encouraging the use of public transport wherever practicable.

Buying an annual season ticket is generally cheaper than purchasing weekly or monthly tickets with some operators offering an annual ticket for the equivalent price of 40 weekly tickets

How it works...

The Trust will fund the purchase of an annual season ticket by way of an interest free loan. You then pay back this loan within the lifetime of the season ticket by 12 equal monthly instalments from your net salary (that is, after tax and National Insurance have been deducted).

The annual season ticket is valid for travel between your two chosen stations and can be used at any time, including weekends, although the loan is approved on the understanding that it is mainly intended for travel between home and the workplace.

Loans cannot be granted for monthly or quarterly tickets, or for tickets which cost less than £100 per annum.

Loans are made in the form of a salary advance. On receipt of the loan, Payroll will commence the regular deductions from your pay. In no circumstances will the repayment period be allowed to extend beyond or exceed the life of the season ticket or your contract of employment.


To qualify, you must be a salaried employee and your contract of employment must be for a period which exceeds the expiry date of the ticket (i.e. a minimum of twelve months). Your net monthly pay must be sufficient to cover the deduction of the loan. The season ticket will cover relevant public transport costs to and from your workplace but not any other costs of travel, for example it will not cover any costs associated with car use or parking. The Trust will assess each application for season ticket loans on an individual basis and reserves the right to delay or refuse an application

Employees should obtain a quotation from the travel provider to confirm the cost of the season ticket and attach it to a completed season ticket loan application form. All application forms should be completed and signed by your line manager, to confirm eligibility, verify the stated journey to work, and to confirm they are satisfied that the quotation provided is genuine. Completed application forms should be forwarded to Human Resources at least four weeks before the loan is required, together with a quotation from the travel provider. In all instances, original copies of documentation should be provided. On receipt of the application form, Human Resources will validate the request before sending to Payroll. A loan payment will then be made to your bank account so that you can purchase your season ticket on-line or at the booking office. Arrangements will then be made for the monthly deductions from your salary for 12 months. Evidence of the season ticket purchase must be provided to Human Resources within 2 weeks of the loan being paid. Failure to produce this will result in the immediate repayment of any outstanding element in full. Any suspected abuse of the season ticket loan arrangements (for example evidence that the loan has been used for another purpose) will be investigated using the Trust’s Disciplinary Policy and Procedure.

You must request a loan before purchasing the season ticket. The loan must only be used to purchase an annual standard class season ticket and a copy of the ticket must be provided to Human Resources. The season ticket will not renew automatically at the end of the twelve months: you will need to apply for a new ticket using the same process. Care of the season ticket is your responsibility. In the event of loss of ticket it is your responsibility to arrange for a replacement from the travel provider. Should the travel provider decide not to replace the ticket for any reason, you will still be liable for the loan and deductions from salary payments will continue unabated until the whole loan has been cleared. If you leave the Trust before the advance has been fully repaid, the balance outstanding will be recovered from your final salary. If you return your ticket before the expiry date you will be required to pay the outstanding balance to the Trust