Career Development Loans with poor credit history

Moonlight1971

Hi everyone

I'm a mum with a four year old and a 7 month old. I lostmy job last year and we're currently living on one (low) wage and really struggling!

I have a degree which I've not really used and I'm interested in going back to uni to turn it into a postgrad, in the hope I can use it to get a career off the ground. Trouble is, there doesn't seem to be much funding around for my subject area (plus my degree is a few years old so I'd probably go for a taught postgrad at first rather than a research one)

How hard is it to get a CDL? I have a terrible credit rating - due to living on one low wage for the last year and struggling to pay the "priority" debts let alone the non priority ones. There are defaults and CCJs on my credit file, even though, stupidly enough, I also have a mortgage, a mobile phone contract and two bank accounts (one Coop, one First Direct which has an overdraft facility). But my credit rating wouldn't get me a normal loan or a credit card.

Its a catch 22 situation because without extra study I'll struggle to get a decent job and without a decent job our financial situation won't improve! Any experience?

CLAPTON

its unlikely that anyone will give a loan to some-one with a terrible credit history

in any event how certain are you that the extra degree would get you a good job if you current degree doesn't ;
how would you plan to pay off the CDL as well as (presumably) existing debts

Count_Cagliostro

I don't know anything about Career Development Loans, but have you looked into the Open University? They do postgrad courses too, and they give quite a bit of support to low income households. Plus it is easier to combine with childcare.