Loan or the cc?

rising_from_the_ashes

I'm looking finish my degree later this year and there are a couple of options:

a) attend a reasonably near Uni for 2 years (need to do 12 modules @ £305/module = £3660)

b) do it via an English Uni online for a year (need to do 5 - 8 modules - depending on the Uni = between £2200 and £2800)

Although option A would be preferable (able to go in person & would be able to pay per module) option B obviously makes more sense money wise and it would be great to be able to finish in 1 year rather than 2, but I'd need more or less pay this in one go.

Either way, I need to raise the money myself. I'm considering a loan, however, I will be looking to fix my mortgage at the end of the year when my penalty period ends so don't think it's a good idea to apply for credit before this.

I also have cc which has a £5k limit on it (cleared in full every month).

Would it be better to pay the fees on my cc and pay as much to them as possible each month (but obviously I'd still have a balance when I need to move my mortgage) or go for a loan?

Thanks

david_hellier

Are you not eligible for a student loan? Using a CC is not recommended.

rising_from_the_ashes

This is part of the problem, funding for part time study is pants! (Nevermind that I've worked/paid taxes & never had a penny in any form of benefits etc for over 20 years).

if I go for Option A (2 years @ Scottish Uni) I may be eligible for £500/annum but if I choose Option B (1 year @ English Uni) I'd get nothing.

I'd still need to find £1,300/year extra to fund the 2 year course in Scotland which is more than the total costs at some of the English Unis.