Career Development Loan?

Mumto3cheekymonkeys

Hi All,

I am currently working part time however I am interested in doing my nvq in hairdressing. I started this when I was younger but had to leave before I completed it, something I have always regretted doing. I have thought about doing it at college but I would not be able to work as well as the course would be full time, I would also have trouble with childcare etc. I want to do it with the salon that I first did it with as I will be required to work 16 hours helping me earn and also making me qualify for some childcare help. The cost of the nvq and training is £5000 and I would also want say about another £500 for equipment.
As you all know I do not have this kind of money atm and we (me and my OH) are selling his property which will leave us with some cash but this is not likely to be completed until october and the course is to start in september.
I was wondering If anyone knows what my chances would be with getting a career development loan.
We currently have a loan which we have never missed a payment on but are in a overdraft to the limit not leaving our rating very good I should think. Our plan is to clear all our debt when the house has sold but If I wait till then I will have to wait till next september and im being impatient.

Sorry if its all confusing to read but any help or advise would be much appreciated.

Many thanks MT3CM X

jonesMUFCforever

IMO Hairdressing does not come under Career development loans scheme - unless the rules have drastically changed.

To be honest waiting a year may well be your best option - where would you be if the house sale fell through?

Dunroamin

£5,000 is a ridiculous amount to pay to do an NVQ in Hairdressing; have you looked at what courses are available through your local college?

Mumto3cheekymonkeys

I could afford the repayments even if the house sale fell through as I would be putting money aside for the loan anyway to a max of about £150 pm even though they say you dont pay it off until the course has ended which would be in 2 years. I could do it through college however that would mean me going full time and that is something that I cant really afford. I know £5000 sounds like an awful lot of money and I was also shocked when I saw the cost but it is a very well known and praised academy round my area and the chances of me getting employment would be much higher so I have been told.

Mumto3cheekymonkeys

Just to let you all know that I called the academy that I was interested in learning with and they have told me due to my age and previous experience I am not considered to need to do the whole nvq and just the practical units which will give me the same qualification. This is costing a much reduced rate and it is to be paid in monthly instalments that I can actually afford to pay so is all good thanks all! X