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Career Development Loan
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TerminallyShortOfCash
Posts: 76 Forumite
in Loans
Hello.
Three years ago I took out a CDL so that I could study for a Masters degree at uni. The loan was for 5k and i am due to start repayments in december. However, I have deferred the final year of my course - at first this was due to work commitments and was only supposed to be for a year, but I am now pregnant and the uni have allowed me to add a second year to the deferrment. my question is this - if I speak to the CDL company, will they suspend my repayments until I finish the course? My biggest fear is that they will insist that repayments begin immediately. I have looked at the terms of the loan and from what I can gather the loan only becomes repayable by immediate instalments if I quit the course, which I obviously haven't.
I would be grateful of any advice
TSoC
xx
Three years ago I took out a CDL so that I could study for a Masters degree at uni. The loan was for 5k and i am due to start repayments in december. However, I have deferred the final year of my course - at first this was due to work commitments and was only supposed to be for a year, but I am now pregnant and the uni have allowed me to add a second year to the deferrment. my question is this - if I speak to the CDL company, will they suspend my repayments until I finish the course? My biggest fear is that they will insist that repayments begin immediately. I have looked at the terms of the loan and from what I can gather the loan only becomes repayable by immediate instalments if I quit the course, which I obviously haven't.
I would be grateful of any advice
TSoC
xx
Lightbulb Moment: January 2006
Current Debt: Loan 35500 9.9% Secured - taken out to consolidate all other payments coz there were so many!!
Total Household Income: 1866.00 p/m
Aiming to be debt-free by July 2011 :eek:
Official DFW Nerd Club - Member no. 138 :j
Current Debt: Loan 35500 9.9% Secured - taken out to consolidate all other payments coz there were so many!!
Total Household Income: 1866.00 p/m
Aiming to be debt-free by July 2011 :eek:
Official DFW Nerd Club - Member no. 138 :j
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