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Do you get a second loan if you paid off your first?

Hello Chaps,

I'm in the lucky position where I can pay off the remainder of my original loan.

Will this entitle me to a student loan while studying for a second degree?

Reply 1

The Real Quaid

How much do you have left to pay off?

Would it be worth just funding your second degree with the amount you have available to pay the first one?

Reply 2

reck

A shade under 5K which I'll probably pay off anyway.

I just heard a rumour about this second loan business.

If its true, I could write a cheque now and save myself a lot of trouble later; I could use my savings for a new place rather than the 9K a year plus rent.

(edited 12 years ago)

Reply 3

modgepodge

No, you can't get a 2nd loan even if you pay off the first one. You can't get a loan for a second degree even if you didn't take a loan at all for the first one!

Reply 4

jappocrappo

Original post by reck

Hello Chaps,

I'm in the lucky position where I can pay off the remainder of my original loan.

Will this entitle me to a student loan while studying for a second degree?