Career Development Loan

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Thank you. However I have good credit and im a homeowner. If i can afford the repayments then i will consider the traditional bank loan as an option.

They won't let you have it is what I meant. I wanted to do that too, I have good credit and the repayments are certainly more affordable than the career one but getting a loan would be fraud as they won't allow you to have it for education so you'd have to lie and say it's for something else (which I considered quite seriously)

Reply 1341

Brew04

Hi
I recently applied for a loan with my bank Barclays I am very worried however as I have started the course and they haven't got back to me yet. I know it can take months depending on when you applied but they said I would hear back from them by Wednesday. Now bearing in mind I have already started the course if funding falls through I am very stuck. How long does it take usually to hear a decision? as I called on Friday and he told me to call back on Wednesday. Its only been two weeks but as my course has already started I think they pushed my application forward. Also my credit rating is not bad but I do have three bad points on there due to my phone contract also a credit card I am using 99% of. If I do not get accepted does anyone know the address to write to appeal?.

Reply 1342

jmcc93

I've been accepted by the Co-op for a loan to cover living costs (got rejected from Barclays and found them in general a nuisance). I sent away all the documents they needed such as proof of address and my acceptance of the agreement on Thursday (5 days ago). Sorry if anyone's asked this already and I'm being a broken record, but does anyone know how long it then takes them to give you the funds now?

Reply 1343

username944192

Original post by Brew04

I've heard the appeal rate is very low, you might as well start preparing an application to Co-op ready to send off if Barclays does reject you.

Are you a current Barclays customer? I am and my application from start to finish didn't take very long at all. The trouble you're facing will be with the uni, they will have deadlines as to when the payments should be made (and you're quite late if my uni is anything to go by - our deadline for the first payment was 31st October) so if you fail to pay the university can terminate you from the course. My payment was late because I sent off my papers with 1 document missing so had to send that off separately, but because I had my letter proving that I had been accepted for a conditional loan my uni was ok with it. If they start chasing you up for payment and you haven't got a conditional loan you might have to pay the first instalment yourself

Reply 1344

jemayhew

I received my loan in November..I would suggest to anyone thats thinking of applying they should be prepared to wait upto 3 months.

Reply 1345

Hello9325

Hi,

I'm currently in the middle of my MSc. I managed to pay the first instalment of £4,500, but now feel like I may struggle to pay the next (due end of the month) and would therefore like to take out a CDL. Does anyone have any advice?

Reply 1346

jemayhew

If you're not a Barclays customer i would apply through the co-op. Barclays took around 3months to process and award my loan, whereas some on here had their loan within a few weeks with co-op.
The delay may have been due to the time i applied (beginning of August).

Reply 1347

bluemountain

I applied to the co-op for the cdl to cover my tuition fees. However at the moment I am unable to cover my maintaince costs. I want to apply for extra money to cover this. First is this possible and has anyone ever done this? Applied for a cdl and asked for an increase later.

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Reply 1348

jemayhew

Original post by bluemountain

Hi, my friend applied for £4k initially then called CDL during the processing time and increased it to £10k. She was questioned about this (which would be standard) but it was approved for her.

Reply 1349

bluemountain

Original post by jemayhew

Hi, my friend applied for £4k initially then called CDL during the processing time and increased it to £10k. She was questioned about this (which would be standard) but it was approved for her.

My loan has already been processed and part of the tuition fees has already been paid to the university. Therefore I am wondering if they can still allow me to apply for more? Is it not possible since I have already gotten the loan?

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Reply 1350

jemayhew

Aah, as you already have the money then im not sure. Call Cdl, im sure they'll give you an answer.

Reply 1351

bluemountain

Original post by jemayhew

Aah, as you already have the money then im not sure. Call Cdl, im sure they'll give you an answer.

I will give them a call and see what they say. Thanks for the information.

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Reply 1352

peaskarr

Did Barclays scrap the CDL or not? I can't see it being offered anywhere on their website.

Reply 1353

Klix88

Original post by peaskarr

Did Barclays scrap the CDL or not? I can't see it being offered anywhere on their website.

Co-Op Bank still seems to be offering them:
http://www.co-operativebank.co.uk/loans/career-development-loan

Reply 1354

999tigger

Original post by peaskarr

Did Barclays scrap the CDL or not? I can't see it being offered anywhere on their website.

That was sneaky of them. never heard about the withdrawing. Ring up National Careers and they might tell you more.

Reply 1355

Bloodrose

My guess is that the CDL will largely be replaced by the new government PostGraduate loan scheme, which is a far better alternative for academic postgrad students anyway really.**

Reply 1356

peaskarr

Original post by Bloodrose

My guess is that the CDL will largely be replaced by the new government PostGraduate loan scheme, which is a far better alternative for academic postgrad students anyway really.**

It is better and it's been rollout out by now but in England only. Scotland Masters Loans are to be approved but there's no information when it is going to happen.

Reply 1357

999tigger

Original post by Bloodrose

My guess is that the CDL will largely be replaced by the new government PostGraduate loan scheme, which is a far better alternative for academic postgrad students anyway really.**

Whilst it will obviously have an impact the CDL is aimed at careers and not just postgrad. The issue was about Barclays stopping to offer it.

Reply 1358

Neelambri

Barclays are an absolute joke. Went in to the branch to set up a profile and send my application off which all went fine. Got a text the next day that said "We have received your application aand you will hear back from us in 10 days time". Its been 3 days but I thought I would call just to check how it was going. They told me my course hadn't been registered so they couldn't accept it yet. I asked them if they were planning on telling me this and they said no and that I had 7 days to get it registered or they will reject me . I then called my university and asked them to register the course but they said this will take a week as the person in charge of that is away. Called Barclays back and asked for an extension and they said they are STOPPING the CDL and this was the last week to accept applications so if I didn't get it registered then that was it. If I hadn't called them and chased them they would never have got back to me and the deadline would have just passed and I would have been rejected. Speaking to them on the phone is painful too as they are all clearly just reading from a script and don't listen to what you are saying.

Going to the Co-Op.

(edited 7 years ago)

Reply 1359

peaskarr

So, only the Co-op from now on? I've just opened a student account with Barclays to have it easier to get CDL, whereas Co-op rejected my application for a student account with me without giving a reason...