Course funding

catoutthebag

Hello,
.I'm looking to start a part time course next year. It's 6 months. Cost about 1750.
SLC can't help as it's not listed with them.
I'm self employed and have some SLC to pay.
No debts apart from SLC and mortgage. One cc I rarely use. Good/excellent credit rating.
Hoping the institution will allow monthly repayment as I can manage that.
Savings not high so don't want to dip into it.
What are my other options please?

[Deleted User]

Long term 0% card? Although with little credit history, you may be unlikely to get the better deals.

How long would it take you to save for it? That will give you an idea of the payback schedule.

Voyager2002

Not answering the question posed, but do consider whether you need to pay for the course. Usually what you are really paying for is the certificate at the end, and if you are self-employed that is not going to help you get a promotion or anything. The actual course content may well be available on-line as a MOOC (check out the Futurelearn site).

catoutthebag

Deleted_User wrote: »

Long term 0% card? Although with little credit history, you may be unlikely to get the better deals.

How long would it take you to save for it? That will give you an idea of the payback schedule.

I have lots of credit history, I just don't need a cc much. I can pay back over the course of 6-12 months

catoutthebag

Voyager2002 wrote: »

Not answering the question posed, but do consider whether you need to pay for the course. Usually what you are really paying for is the certificate at the end, and if you are self-employed that is not going to help you get a promotion or anything. The actual course content may well be available on-line as a MOOC (check out the Futurelearn site).

no its not like that. its a university course, it needs doing at an accredited uni. fees vary and I'm going for one which is cheapest/nearest. also, funding is sometimes available through government body, but its competitive/not guaranteed and already been allocated for this year. the qualification will help my career and diversification, I can maybe put it on in my 17/18 tax return

Arleen

One good option is to save up for the course and then pay cash. Since you can afford it on monthly payments (which I imagine are on 6 months term + interest) you can easily save that amount every month and start the course come summer time, without having to take on any debt.

ReadingTim

Unless you can borrow at 0%, it makes no sense to borrow and pay interest when you have savings - especially as they'll be earning a fairly negligible amount in interest themselves.

So use your savings and get a credit card in the event an "emergency" arises - chances are, it won't.

HappyHarry

Could you not surrender some bitcoin to pay for it and avoid the need to go into debt?

http://forums.moneysavingexpert.com/showpost.php?p=73536497&postcount=17

Malthusian

catoutthebag wrote: »

I don't own 'some Bitcoin'...for all you know I could have invested 100 and made 300. Not going to pay for a Course divvy!

We know you didn't make £300 because you implied that you're evading capital gains tax: "Cgt? Only if hmrc, good luck in them trying". You don't say "good luck trying" to the taxman when you legally don't owe them anything - it's pretty clear the missing words after "hmrc" are "find out". So you've told us you made a gain of at least £11,300.

But perhaps you need to hang on to that money to pay the eventual tax bill and penalties rather than use it to pay the course.