Career Development Loans

Dub-ztar

I'm currently in full-time employment and intend to start a part-time distance learning masters course this month. However, despite the fact that I'm earning, the costs are extremely high. I'm interested in taking out a career development loan to cover the costs but I'm worried that they will view my application unfavourably because I am earning. Does anyone know if the amount you earn has an affect on the application? One person told me that it might work in my favour as it shows that I am more likely to be able to afford repayments. Is this true?

David_Brent

I would think the fact that you have income in the first place can only be a good thing, when they look over your application, I can't see it having a negative impact.

sabelu

How and where do you get these ?

pug_in_a_bed

banks? its the same as graduate loan isnt it? my expereince, very high interest rates and little flexibility in paying them back, ie finished masters degree in the september, expected to begin paying back november...but no job , i'm down on them, but they work for lots of people

fran_from_willesden

I start a Masters in September at Newcastle and I am in need of a Career Development Loan. From what I've found out, HSBC is probably my best (actually, only) option. You can take out upto £8k to fund further learning. Although I'm on a pretty good wage at the moment, finding £3200 for my fees as well as over £2500 for accommodation means that the only way I can hope of getting a decent job which is related to my undergrad degree is by putting myself further into debt.

I'm soooooooooo glad that I had the chance to go to Uni before top-up fees were introduced otherwise there's no way I'd get myself into double the debt I'm in now (around £15k).

Sabelu - I suggest you get yourself to a branch of HSBC - they're normally pretty helpful and can help you through the application.

pug_in_a_bed

have you had a really good look on the website for schoalrships and bursaries?

i paid half the masters fees with a scholarship which was dependent on basically my attending uni in my home town, it was worth nearly £2000.

or try prospects.ac.uk to search for loads of little ones

fran_from_willesden

:T Thanks for that tip smam21 - I'm definately gonna check it out. I can add it to my money-making ideas - mainly meaning I play the lottery and have bought some Premium Bonds in the hope I win loadsa money!

pug_in_a_bed

fran_from_willesden wrote:

:T Thanks for that tip smam21 - I'm definately gonna check it out. I can add it to my money-making ideas - mainly meaning I play the lottery and have bought some Premium Bonds in the hope I win loadsa money!

if you win the lottery you can pay someone to do the masters for you! lol

fran_from_willesden

smam21 wrote:

if you win the lottery you can pay someone to do the masters for you! lol

I wish! Mind you, I actually miss doing all the work and research and having a routine to my days. Bring on student life again though. Two years in the real world made me realise how much I miss Uni. Bring on the Happy Days again! :j :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer:

pug_in_a_bed

if you get really pushed or cash during the year you can also apply for a the access to learning fund and try and get some money from that (think up to £1000). however you need to show all kinds of docs like statements etc and prove you're in need.

its good to bear in mind anyway.

good luck!

fran_from_willesden

smam21 wrote:

if you get really pushed or cash during the year you can also apply for a the access to learning fund and try and get some money from that (think up to £1000). however you need to show all kinds of docs like statements etc and prove you're in need.

its good to bear in mind anyway.

good luck!

I applied for that while I was doing my undergrad degree. The first time I got £500, the second time I got £1000. I think they've toughened up the application process though cos all I had to do was write a heart-wrenching statement saying how I'd have to leave if I didn't get any money and show the previous two months statements.

I'll have to practice turnign on the tears at a moments notice!