CDL - will I be eligible?

rajakumar

I'm planning to do an MBA part-time course as you know the fees are high I'm looking for a loan. Currently I'm working and earning a salary of 30k. Will I be eligible for Career Development role?
Any advice would be appreciated.

Thanks in advance.

Gayle1983

CDL's are only available for vocational courses i.e. course where at the end you will be qualified for a particular job. Without knowing your particular course I can't comment definitely.

When I applied for my CDL the best starting point I found was this website:-

http://www.lifelonglearning.co.uk/cdl/

Hope that has more helpful information for you.

Eoin_McLove

Although the CDLs are meant to be used for 'vocational courses', in practice they are available to almost anyone. I got a CDL for my MA in Holocaust Studies - hardly a degree which would lead to a specific career. I think most graduates would be eligible for the CDL on the grounds that having a second degree is beneficial to their career prospects, and this after all is the point of the CDL.

Regardless of this, I think that you may struggle to get a CDL, given that you're earning a respectable salary. CDLs are aimed at people who can't afford living costs and tuition fees, e.g. graduates. The point is that you take a CDL if you have no other means of paying for your course, etc. To the bank, it would be assumed that you can pay for your course and living costs. I may be wrong, but I don't think you'd be eligible for the loan seeing as you've been earning a decent salary. As part of the application, you have to fill in an annual budget, showing all your income and predicted expenditure. Basically, if you've got the money there to afford your study, they won't give you the loan.

However, for an MBA, I would have thought that a Professional Studies Loan would be more suitable, and you'd probably be accepted without much trouble. These are offered by most banks and usually for up to £25,000, and are designed for law/business/medical school students. You'd certainly have more chance of success applying for this than a CDL.