Help with getting a loan

somewhatdamaged

Posted this on another thread but it dropped off the board without a reply. I have recently applied for a PDCL but have been refused. I currently am still working in my full time job while I was waiting for confirmation of the loan but have agreed to take one day a week off to attend the course while everything is in the air. I desparately want to do the course and really don't want to have to go back to my job but I don't see what realistic options I have. -

I have today, after starting my course been told that the Co-Op are refusing my application based on my credit score even though I can't think of any reasons why it should be bad. I have paid a few bills late in the last few months but other than that I have never had any real problems.

I wanted 10k to pay for a MA in HRM. Though I have started the course, I am still working 4 out of 5 days at work being reluctant to quit until I got the PCDL on the understanding I could have the one day of work off a week while things were in the air.

Having checked the refund policy of the University, I have until 4 weeks from start of the course date (28 Sept -> 26 Oct) within which to quit and not be liable for the fees. I desparately want to do the course and am really enjoying it so far.

What is available to me to secure funds to do the course? I fear applying to Barclays will take me past the cut off date and a major reason I applied to Coop was that they're application was easier - Barclays were requesting a load of ID I don't have with having moved house very recently.

McKneff

I have paid a few bills late in the last few months but other than that I have never had any real problems.

I think you have just answered your own question.

Just a note. I have no debt, no mortgage, own my own house
full time well paid job - and i still got refuse a credit card. How crazy is that eh.

somewhatdamaged

I have only really paid things late over the last few months partly because of a pay dispute I had at work meaining I was left a bit short. Ended up getting a bank charge cause one of my DDs bounced and paid a credit card bill a few days late. Is that enough damage done to my credit score so that I would get refused a loan?

Are there any other places I can get a similar sort of loan? I notice natwest (my bank) do loans but they are for Doctors and such and I'm not sure they would offer me a loan for my specific course. I also notice that RBS used to do a CDL and that from the thread I posted on before, it appears someone has got a CDL from them this year even though I can't see anywhere where they advertise it.

puddy

am i right in thinking that student loans are just for first degrees, not masters?

somewhatdamaged

jenner wrote: »

am i right in thinking that student loans are just for first degrees, not masters?

That is correct.

Bearing in mind that I currently hold about 4 grand in debt (OD from student days, car loan, CC) and I will only be working part time while studying, is it possible/likely that Natwest would be prepared to loan me 8-10k with a payment holiday of a year?

I think it's fair to say that my employment prospects would significantly enhanced in 12 months time and it is on this basis presumably that banks take on the risk.