P/T Student Loan

Simon_B_2

I've just started doing a honours degree at uni.
I have a student number, Nus card etc however work are paying for all of this, i'm still classed as working full-time.
But is there anyway for me to get a student loan? Which i could use to pay off my outstanding bank one which is currently 18% APR?

dmg24

Is your degree classed as full time or part time?

If it is full time, then yes you can still get a student loan. If it is part time, then you will not qualify.

18% ... ouch!

Simon_B_2

Sadly it is P/T and the 18% loan really wasn't thought through

Thanks though

dmg24

Maybe look at doing a super balance transfer of the loan to a 0% credit card? Think that Mint and Egg are the two that will let you do this.

There is an article by Martin, I think it is on the Credit Cards board, that will tell you more.

Good luck with your studies x

dmg24

Just seen your post on the other thread - looks like our messages crossed!

anewman

Try a career development loan and go for the full 8k, even if you don't need it. It's interest free until 2 months after you have finished your course, and with barclays it is 12.9% after that so lower than what you're paying now. So basically it is free money, you can stick what you don't need in a savings account, and if possible at a later date get a lower rate loan to pay off the CDL before interest starts getting charged. Not sure if these can be used on undergraduate degrees but it's something to look into.

Check out this article

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1045441846,81288,

edit.. just noticed you say work pays for it, in which case you would only be able to claim for living expenses and course expenses such as books that are not covered by your wage or paid for by your employer.

It may be worth looking into getting a lower rate loan and doing every possible thing to save money to get rid of that loan.