Career Development Loans

[MrsNutkin]

Anyone had one?

I'm hoping to go back to uni in Sept 2012 as a graduate to do my post grad in Counselling but I would need a Career Development Loan.

I am currently not working, just volunteering and hoping I would be able to get one. Apparently as long as you have a decent credit rating these things are quite easy to get as they are designed for those who can't fund further study, and someone who was working and possibly had savings would find it easier than someone who isn't working.

[Mandimoo]

i just did an OU course and got grants rather than loans, £1800 for feb-october course 10-12hrs a week (lucky if i did more than 4hrs a week though!) courses must meet eligibility criteria - be worth so many points, few other points - there's a eligibility checker, you qualify if you are on means tested benefits like income based jobseekers or housing benefit.

i got more as i had a dependant adult for most of it (partner on benefits) and i think i might have got some for having kids too - can't remember if i got grant money for that or just the offer of paying 40% of childcare - which i decided wasn't worth the paperwork.

[The One Who]

They are not that "easy to get". The application can take a while, and not everyone gets accepted. Considering only two banks (Barclays and the Co-Op) operate them, if you get rejected by one you only have one other chance (and have to go through the whole process again) to get one that year.

The one thing about CDLs is that essentially they are commercial debt. One month after you graduate you are expected to make repayments, whether or not you have a job. So I'd really only take one out if you are confident of getting a job immediately upon graduation, or if you have some other capital that you can use.

[MrsNutkin]

:( I am running out of options now. 5,000 is standing between me and this course. banks won't loan me the money understandably and I can't seem to get any charity funding

[Mandimoo]

what about grants? adult learner's grant etc

[MrsNutkin]

Will look in to ALG. I have also applied to charitable trusts and just awaiting them getting back to me.

[Bellatrix]

^Try the open uni, Are you eligible for more student loan, or have you reached their maximum?