career development loan. Help!

mickiship2012

Hello all,

Recieved a pack this morning for a career development loan, just wondering how easy these are to obtain? Just i have a 2000 loan with my bank and a 2000 overdraft? Ideally i would like a CDL to pay these both off and then just pay this loan back on a lower interest level? I have just been accepted on to a full time job so i can pay all this money back pretty simply just wondering how easy it is?

Reply 1

Knalchemist

14

Original post by mickiship2012

Hello all,

Recieved a pack this morning for a career development loan, just wondering how easy these are to obtain? Just i have a 2000 loan with my bank and a 2000 overdraft? Ideally i would like a CDL to pay these both off and then just pay this loan back on a lower interest level? I have just been accepted on to a full time job so i can pay all this money back pretty simply just wondering how easy it is?

You can't use a CDL to pay off other loans. A CDL is for the purpose of education and training - when you apply you have to state where you're attending, what course etc.

Reply 2

mickiship2012

OP

2

Ah well i have an outstanding tuition fee payment of 1100 so i could use it for this?

Reply 3

Knalchemist

14

Original post by mickiship2012

Ah well i have an outstanding tuition fee payment of 1100 so i could use it for this?

I'm not 100% sure you'd have to ask one of the providers of the loan. I don't think you can though.

Reply 4

mickiship2012

OP

2

Ah so it would be used for the cost of the whole masters course?

Reply 5

Knalchemist

14

Original post by mickiship2012

Ah so it would be used for the cost of the whole masters course?

Yes, you tell them you're going to study a course, they pay the money straight to the university, and then you begin to pay it back one month after the course ends.