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career development loans

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Comments

  • sonyalouise
    sonyalouise Posts: 3 Newbie
    Hi Dag

    Thanks for your advise I will certainly look in to your suggestions.

    Sonya
  • sonyalouise
    sonyalouise Posts: 3 Newbie
    Mountainofdebt

    Thanks for your advice, I have started to cut down on every day spending, and have sorted out a much better rate on the mortgage through london and country recommended on this site - a very good deal infact so that will help. Your right to look at out goings though its so much easier to say than to do. Good luck with the debt busting.

    Sonya
  • Darina
    Darina Posts: 1 Newbie
    Hi,

    I have just come to the end of an two year MA- and now have the joy of soon having to pay back a £5000 ish career development loan, over three years, I was wondering if it would be advisable to transfer the balance to a credit card, or even two? Any tips greatfully received!!!

    Thanks
  • aroma44
    aroma44 Posts: 43 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I paid mine with a 12 month interest free purchases credit card then just transfered the balance after 12 months to another 0% for balance transfers and paid of as much as I could each month. Just an idea and it worked for me!
  • jane22
    jane22 Posts: 110 Forumite
    Hi,
    i'm trying to find out as much as I can about the options for professional studies loans. they seem to be at about 7.5% interest. Is this a good rate? I have never taken out a loan of ay kind before but both my husband and I will be going to graduate school and are looking into our options financially as we will be basically without any income for these years. Does anyone have any experience of these loans - are they a good deal? Or should I just take out another loan of some kind.
    Thanks.
  • lilrowan
    lilrowan Posts: 94 Forumite
    Has anyone ever had a Career Development Loan? I have already got a massive student loan to pay off (when I earn enough of course), so I am reluctant to take out more... but I want to do a Qualification in Careers Guidance to get a good job... does anyone know any 'cons' to taking one out?
  • jb478914
    jb478914 Posts: 52 Forumite
    also I would like to ask if it is possible to get a CDL, for say an accountancy or law training contract where you are already being paid to study. The possibility of an easy 8k stooze is so tempting!
  • fran_from_willesden
    fran_from_willesden Posts: 3,179 Forumite
    I'm in the process of getting a CDL (when I send off the form!) and I also have a huge student loan to pay off when I finally get a proper job. I'm doing a Masters at Newcastle and the only way I can do it is with a CDL. You can get them for vocational training but it's best to check out the websites. Mine is going to be with The Co-op Bank (if they give it to me), but Royal Bank of Scotland and Barclays also do them. These are the only banks where you can get CDLs.

    In relation to your question jb47......in my booklet I have about applying for the loan, it says you're not eligible if you have a job and are recieving a grant from your employer (ie - getting paid to study).

    Try these sites to find out more

    https://www.learndirect.co.uk
    CDL Information Line - 0800 585 505


    fran
    :dance::j Take That 23/12/2007:j :dance:
  • deadchinadoll
    deadchinadoll Posts: 1 Newbie
    Hi,

    I've applied to Barclays for a CDL, which will hopefully be accepted anytime soon!!

    My question is:
    Will I be able to pay off the loan before the repayment period starts?

    It's not that I don't have the money to pay my fees. I do, just not in 6 months that my Uni wants.

    I don't want to take out this loan if I'm going to be stuck paying stupid amounts of interest for a whole year. I'll just have to find another way.

    Cheers in advance,

    Louise
  • solarstone
    solarstone Posts: 176 Forumite
    Part of the Furniture Photogenic Combo Breaker
    My partner has just been turned down for a career development loan for a mature student 3yr part-time course. (We complained originally and they looked into again, spending about 3 mths asking us for all sorts of statements, letters etc.... and then turned it down again saying they didn't have to tell us why !!)

    What would be the best way to pay for the course which is approx £2K p.a. I currently have this year's on a 0% for 9 mths credit card...

    Any help much appreciated ;)
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