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Careership Loans and Credit
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Silencio_2
Posts: 39 Forumite
I hope to do a Masters eventually and maybe a PHD, but I am worried about funding.
What experience do people have with career loans for education? Does your credit rating affect your loan?
What experience do people have with career loans for education? Does your credit rating affect your loan?
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If you're talking about Career Development Loans then they're completely different from Student Loans and are much more like normal Personal Loans.
People certainly take them out to do a Masters degree but you have to repay them fairly soon after you finish; there's no deferrment possible and no repayment on the basis of earnings. Their main advantage over Personal Loans is that there are no payments due while you're studying and the government pays the interest during this time.
Unlike Student Loans you can only get them with a reasonable credit rating and the interest is very similar to market rates.0
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