Career Development Loan

Original post by Petro_99

hi

so I have been offered the bursary from universary to cover tuition costs, can I still get the loan for living costs?

Yeah, on the application form you can put 0 in the box for tuition fees, then request however much you like (not over £10,000) for living costs.

Reply 1123

oceansiz3

3

Hi,

I am looking to apply for a CDL from either Barclays/Co-op, however my situation is a little different from most.

I want to fund the first year of an undergraduate course (£9000) as Student Finance won't due to various reasons.

My question is, will either of the banks reject me because I'm applying for undergraduate funding as opposed to postgraduate? Also, I've never had a credit card, although I do have a student overdraft from Natwest. Will this negatively impact my application?

Thanks.

(edited 8 years ago)

Reply 1124

Original post by oceansiz3

Hi,

I am looking to apply for a CDL from either Barclays/Co-op, however my situation is a little different from most.

I want to fund the first year of an undergraduate course (£9000) as Student Finance won't due to various reasons.

My question is, will either of the banks reject me because I'm applying for undergraduate funding as opposed to postgraduate? Also, I've never had a credit card, although I do have a student overdraft from Natwest. Will this negatively impact my application?

Thanks.

I don't think undergrad courses are eligible. It does say that the course can only be a maximum of 2 years (3 years if 1 year is work experience), and I'm guessing yours is 3 years?

It also says: "You can’t get Professional and Career Development Loans for first full-time degrees but you can apply for student finance." So if this is your first degree than it also makes you ineligible.

Reply 1125

Original post by oceansiz3

Hi,
I am looking to apply for a CDL from either Barclays/Co-op, however my situation is a little different from most.
I want to fund the first year of an undergraduate course (£9000) as Student Finance won't due to various reasons.
My question is, will either of the banks reject me because I'm applying for undergraduate funding as opposed to postgraduate? Also, I've never had a credit card, although I do have a student overdraft from Natwest. Will this negatively impact my application?
Thanks.

Yes you would automatically get rejected- career development loans are only for courses student finance doesn't ordinarily fund.

Reply 1126

oceansiz3

3

Original post by jelly1000

Yes you would automatically get rejected- career development loans are only for courses student finance doesn't ordinarily fund.

That's extremely disappointing :frown:

Is there any other option for me?

Reply 1127

Original post by oceansiz3

That's extremely disappointing :frown:

Is there any other option for me?

No sadly other than self funding.

Reply 1128

oceansiz3

3

Original post by jelly1000

No sadly other than self funding.

Would I be eligible for a personal loan? I'm seriously in a bad spot as a bank loan (of any sorts) would be my only option, and interest rates don't really bother me.

(edited 8 years ago)

Reply 1129

Original post by oceansiz3

Would I be eligible for a personal loan? I'm seriously in a bad spot as a bank loan (of any sorts) would be my only option, and interest rates don't really bother me.

Banks are unlikely to lend to you as you won't have any money coming in to make repayments. Unscrupulous loan sharks would probally lend to you but obviously thats not the wisest move.

Reply 1130

Since so many here have experience taking out career development loans, I thought I'd ask... Is it possible to freeze repayments on a CDL? I've paid back 4 years of my 5 without any problems, but this next year is going to be difficult.

Reply 1131

Klix88

Original post by Craghyrax

Since so many here have experience taking out career development loans, I thought I'd ask... Is it possible to freeze repayments on a CDL? I've paid back 4 years of my 5 without any problems, but this next year is going to be difficult.

Someone on my Masters course managed to defer payment for a year because they had health problems throughout the course which meant they spent much time in and out of hospital. They completed the coursework during the Masters year, but the uni deferred their dissertation until the following year. They had to submit multiple strands of evidence to the bank, from GP, hospital specialists and uni staff (both academic and admin). It took months to be agreed, but they got the payment deferral in the end.

Reply 1132

Original post by Klix88

Someone on my Masters course managed to defer payment for a year because they had health problems throughout the course which meant they spent much time in and out of hospital. They completed the coursework during the Masters year, but the uni deferred their dissertation until the following year. They had to submit multiple strands of evidence to the bank, from GP, hospital specialists and uni staff (both academic and admin). It took months to be agreed, but they got the payment deferral in the end.

Thankyou! I have had bad health, and have some doctor's notes for that. Its good to know that its worth going to the hassle of trying :smile:

Reply 1133

Has anyone else submitted their PCDL application for this year yet?

I went into Barclays to hand mine in last week. I didn't expect her to go over it with a magnifying glass and a calculator, lmao.

Reply 1134

Original post by Craghyrax

Thankyou! I have had bad health, and have some doctor's notes for that. Its good to know that its worth going to the hassle of trying :smile:

The situation above might be different because it sounds like they were still a student (who deferred their dissertation & graduation due to health problems)?

Either way, looking through the bigass PCDL thread, there's this:
"tash is right about the payments, you cannot defer them, my friend was in the position where she could not afford to pay £209 so she managed to lower the amount to £115 which was something." [pg 5]

So there seems to be hope that if you can't defer the payments completely, you can at least try and get them lowered a bit.

Good luck!

Reply 1135

Original post by k3ro

The situation above might be different because it sounds like they were still a student (who deferred their dissertation & graduation due to health problems)?

I am still a student and my thesis has been deferred :p:

But the loan was for an MPhil I completed before my PhD.

Good luck!

Thankyou! I will merge my thread with the bigass PCDL thread. Silly of me not to post there to begin with...

Reply 1136

winten

Hi guys, I need some advice form you. As far as I am aware you can submit application to Co-operative bank by post and it does not require address verification. I have just graduated from university in UK and now spending time with family in Europe.

However, Barclay requires address verification and since I am no longer living there it's complicated, does anyone have any experience with that?

Reply 1137

Original post by winten

Hi guys, I need some advice form you. As far as I am aware you can submit application to Co-operative bank by post and it does not require address verification. I have just graduated from university in UK and now spending time with family in Europe.

However, Barclay requires address verification and since I am no longer living there it's complicated, does anyone have any experience with that?

You have to be ordinarily resident in the UK to apply so it could be a tricky one if you don't have any address, even a parents one in the UK. I don't think the loan is meant for EU students.

(edited 8 years ago)

Reply 1138