career development loans

napio

Hi,

I'm wanting to get a CDL next year for an Audio Engineering course.

However, there is one little thing i'm not too clear on about CDLs: When you borrow, and while you study, do you have to pay anything?

The reason why I ask is because it always says that "the government pays the interest while you study". So does that mean you have to start repaying straight away but without the interest? Or don't you pay anything until the end of the course?

Thanks.

savvy

Hi napio, I've moved your post to this thread in the hope you may find some useful information relating to your query.
HTH savvy

paulhthomas

Hi all, this is my first post so be gentle!
I've currently got a career development loan with barclays, that is quite happily piling on interest every quarter.
I wanted to take out an interest free credit card to pay this loan off to obviously save myself some money on the interest.
Barclays have told me that I can only pay the loan of using cash, cheque, bacs or online transfer. Any ideas if there's a way I can get round this, as I'm assuming if I take a 0% interest free card and take cash out of a cash point, that would be at 0%!!

Any advice appreciated

iceman_2

Hi there,

Many cards that offer 0% on balance transfers allow you to transfer money to your current account at this rate. You could then use the money in your current account to pay off the loan.

Hope that helps

paulhthomas

ah right, wans't aware you could do that, thanks very much!

paulhthomas

just spoken to Tesco, and they say I can't do it with their card.
do you know of any that you can do this with?

Anwen_2

The Egg Card is, I think, the only one that still allows this, however another option would be to get an Egg Money card and another card with a 0% deal, then balance transfer the amount you need so it shows in credit on the Egg Money card and then that can be transferred to your current account.

paulhthomas

thanks, just spoken to Egg and they still do it. will be getting a card tomorrow I think! thanks for the advice!

dudleyboy

Sorry everyone but I just wanted to vent my spleen about the utterly useless direct.gov Career Development Loan service!! :mad:

This is their website, for all the good it is:

http://www.direct.gov.uk/EducationAndLearning/AdultLearning/CareerDevelopmentLoans/fs/en

Having been offered a place on a masters programme (12 months, FT) I've spent the last 2 months trying to get a CDL application pack out of these people. Each time it's the same old guff: go through eligibility, "ok, bear with me a moment", what's your address, "ok, bear with me a moment", terms & conditions, "ok, bear with me a moment", finishing with "Would it be ok if one of our team contact you sometime in the future to ask you about the service you received today?", me: "yes, that's fine."

Now, 2 months later, numerous calls for an application pack and still no sign of it, I'm eagerly awaiting that phonecall! The poor b*st*rd won't know what hit them!! :mad:

The course starts a week on Monday and as yet I have no way of paying the course fees. Thank you direct.gov! No, really, thank YOU!!

Fortunately I went in to Barclays at the weekend and just picked up one of their CDL application packs, but with no official CDL notes to go by, let's just hope i'm filling it in correctly(!)

And even then, it won't come through in time. Che-ers!!

I'm glad I got that off my chest. :cool:

Seriously, has anyone else had problems this year??

[Deleted User]

I remember looking at career developement loans... don't they have stupidly high (12%) interest rates after your year of non-payments occurs?