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Career Development Loan!!! HELP. :)

Hey,
I am wanting to apply for my CDL loan for my MSc in Biological Photography and Imaging at the University of Nottingham.

I was wondering how easy it is to get the CDL?..
I have a part time job at Tesco (contracted 15hrs a week) but I do shed-loads of overtime.. so that I can pay off my overdraft. I have £450 left of my £1600 overdraft since last September I have paid off my credit cards, my phone bills on direct debit(hasn't bounced for the last 6 months), I have a littlewoods account which I pay off each month early and more than the min payment... I also have pet insurance which comes out of my account monthly.

After paying my overdraft and paying for my living expenses and my animals(which i adore) I haven't got much left to save for tuition fees which are £8,420 and when I got the CDL pack to apply it says that I should only apply for 80% of the tuition fees unless I am out of work for three months?!.. what?... that's crazy. anyway... my accommodation fees are £4908.75... so I will need to cover that too. I am hoping to get a transfer for my contracted hours so I have some money for food & my bills.

I have been reading previous posts and have seen that having a job can have a serious affect on how much you can get from the CDL...
My family doesn't have much money to support me, and so I am really relying on this CDL to get me through my masters. My credit rating is poor but slowly going back up.

Anyone have any advice for me?

Thank you

Claire

Reply 1

MGS

It honestly depends on how the banks interpret your credit file and your current situation. You are on the right track, you can apply for the loans and if they reject you you can appeal explaining your circumstances.

Dan