Getting a student loan after discharge

onward

I've been discharged for over a year now, and an opportunity has come up at work to study part time with the OU while working in order to get a qualification that would progress my career.

I would have to pay for all the course costs (but I would be working at the same time, so still earning). I'm doing all the calculations at the moment to see if my budget (on the new salary I would be getting while studying) will stretch enough to cover the fees over the course of the part-time degree (approx £2000 per year over 5 years). However, even if I can afford it, OU fees have to be paid upfront before each module, so I'm looking at my options.

From what I've read so far, I'm ineligible for the OU Student Budget account as I'm ex-BR, and also ineligible for the 'normal' student loans as I already have an undergraduate degree (in a different field).

Has anyone had any experience of getting any kind of tuition fee loan after discharge. Please note, I will only be looking to do this if I'm sure I could afford the cost of the tuition spread over 72 months.

Thanks in advance

fiveyearplan

If you aren't eligible for an OU Student Budget account or a normal student loan then doubtful you would be able to get a loan for this purpose. How much is your first module? Are you in an IPA?

PippaGirl_2

I'd thought no one could get student finance for post graduate degrees?

onthewayout

You can't get a government student loan if you already have a degree, but I heard a while back that OUSBA is one of the easiest credit checks to pass. A friend of a friend apparently got one with an old bankruptcy and several recent CCJs to her name. Seems like you have nothing to lose by asking.

onward

fiveyearplan wrote: »

How much is your first module? Are you in an IPA?

I believe the first one is about £600, but some are over £1k. I don't have an IPA as I was in a lower paid job before my discharge.

PippaGirl wrote: »

I'd thought no one could get student finance for post graduate degrees?

It's not a post graduate degree, it's an undergraduate degree, the problem is I already have an undergraduate degree (in a different subject) which rules me out of getting a Student Loan (even though I didn't have a student loan for my previous degree...they didn't exist back then).

onthewayout wrote: »

You can't get a government student loan if you already have a degree, but I heard a while back that OUSBA is one of the easiest credit checks to pass. A friend of a friend apparently got one with an old bankruptcy and several recent CCJs to her name. Seems like you have nothing to lose by asking.

Thanks for this. I'd better finish my credit file clean-up then.