Didn't complete degree, want to start new degree, will I get funding?

Jaxx_uk

Im looking at a similar predicament.

I have a degree, graduated about 2 years ago now, but I want to do another one. Im not entitled to a loan for anything for a 2nd degree, but I was wondering if anyone knew if I paid off my previous student loan in full, would I then be able to get another one? Is it simply because I owe them money from a previous student loan that I cant get one or will it not make any difference if I pay it off in full because I already have a degree?

rubuhoeikanaika

Jaxx_uk wrote: »

Im looking at a similar predicament.

I have a degree, graduated about 2 years ago now, but I want to do another one. Im not entitled to a loan for anything for a 2nd degree, but I was wondering if anyone knew if I paid off my previous student loan in full, would I then be able to get another one? Is it simply because I owe them money from a previous student loan that I cant get one or will it not make any difference if I pay it off in full because I already have a degree?

It will make no difference - if you have the money to pay off your loan why not use that to fund your new degree?

You must remember that the loan is the government giving you money. They lend it to you at say 3%, when they could make eg 5% on the markets.

So you are asking for a second gift. In the US, where loans attract commercial interest, you can take out (more or less) as much as you like.

If you really want to do a second BA, consider taking out a loan from these guys:

http://www.salliemae.co.uk/

It's a US student loan company branching out into the UK.

rubuhoe