not entitled to a student loan.. help please :-)

annajennings1982

Hi guys,

Really hope you can help and am going round the houses with this so any tips etc are gratefully appreciated :-)

I have a BA (hons) Drama so have already got a student loan which I am paying off from when I graduated ten years ago. I have now changed career and am studying a diploma in Musical Theatre to try and follow my dream. All very exciting and, I have worked really hard to save a lot of money for this course but, I need to get a loan for approx. £9k to cover cost of living in London etc.

I have spoken to Student Finance who have told me that, unfortunately, I am not entitled to any loan lower than the level I have already received ie anything lower than a degree. I also am not entitled to the change of career loan either through the government as the course I am doing is via private tuition through a performing arts academy and they don't recognise this as one of their accredited colleges.

I am really after any other loans options you can think of that is ideal for me please? I have had a search n the website for the lowest Apr ones and ideally would like to start paying after I finish in September next year. I can pay earlier as have money coming in but, feel like I am going round in circles and want to not be worried about the money side.

Thanks so much guys, really appreciate the help :j
Anna

mickeymouse303

Have you contacted the university about financial options? They will probably have some useful advice.

BrassicWoman

to be blunt, isn't 31+ however long your course is a tad old to be starting a career for the young and beautiful?

Can you not work while studying to cover your living costs? Most actors do!

tidds

Wow that is blunt.... But it is kind of true. Can you not take out a small loan to cover half and work to cover the rest?

BrassicWoman

tidds wrote: »

Wow that is blunt....

Sorry. I'm jst not sure bankruptcy is anyone's dream either.

Candyapple

So what you're really looking for is a loan for £9k.

1. What is your annual salary?

2. Will you be working next year/during your 1 year of study?

3. Do you have any overdrafts / credit card debt / car finance / other loans?

4. Any history of late payments / CCJs / defaults etc?

5. How long have you been on the electoral roll?

6. Have you obtained copies of your credit report from all 3 agencies? If yes, what do they say? (Experian, Equifax and Call Credit)

Assuming your salary is decent and your credit history is good, it might even be cheaper for you to apply for a money transfer card / or several cards to cover the £9k needed, instead of a loan:
http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs

Pixie5740

Do you have to borrow £9k? Some folk I know who've gone back to study a second degree have just paid the university monthly rather than paying the £9k in one go upfront.

A career development loan from Barclays or Coop might be another option.