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Career Development Loan (CDL) Advice Needed Please

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    Hello, I was just hoping that someone might be able to help me. I have just started a postgraduate masters and have managed to arrange a CDL to cover the fees and living costs. I had a bit of a health scare last week and am now thinking of asking to switch onto the part time study option for the course to allow me time to carry on the course and get fully well again. I think this will be fine with the university, but am not sure what would happen with the CDL. They have paid the first installment of the tuition fee, though I was wondering if anyone has had experience of changing CDL arrangements with the Co-op bank once a course has started (as the course would take an extra year and less tuition fee would be payable in the early stages of the course than previously agreed with the bank)? Thank you in advance.
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    (Original post by Ila10)
    Hello, I was just hoping that someone might be able to help me. I have just started a postgraduate masters and have managed to arrange a CDL to cover the fees and living costs. I had a bit of a health scare last week and am now thinking of asking to switch onto the part time study option for the course to allow me time to carry on the course and get fully well again. I think this will be fine with the university, but am not sure what would happen with the CDL. They have paid the first installment of the tuition fee, though I was wondering if anyone has had experience of changing CDL arrangements with the Co-op bank once a course has started (as the course would take an extra year and less tuition fee would be payable in the early stages of the course than previously agreed with the bank)? Thank you in advance.
    Find out from the uni if they are ok with it and what the change in tuition fees will beIts more compliated if they already have the money.

    Contact the bank and wprk out a chnage in the repayment schedule.. It still becomes due once you have finished your course, they just need to be told when that will be.

    Why didnt you get one of the new postgraduate loans from SFE which are more favourable terms?
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    (Original post by 999tigger)
    Find out from the uni if they are ok with it and what the change in tuition fees will beIts more compliated if they already have the money.

    Contact the bank and wprk out a chnage in the repayment schedule.. It still becomes due once you have finished your course, they just need to be told when that will be.

    Why didnt you get one of the new postgraduate loans from SFE which are more favourable terms?
    Thanks for your reply, the uni are fine with it, and the tuition fee is half the full time fee over two years instead of one. I was just hoping to hear if anyone has had any luck making amendments to the CDL specifically with the Co-op bank, after the first payment had been made to university (they seem to pay the tuition fee in quarterly instalments)? I have had trouble getting in contact with the bank recently as they have said they have been very busy with CDL applications still.

    I would have loved to have taken advantage of the new masters loans, but am not eligible due to previous postgraduate study.
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    (Original post by Ila10)
    Thanks for your reply, the uni are fine with it, and the tuition fee is half the full time fee over two years instead of one. I was just hoping to hear if anyone has had any luck making amendments to the CDL specifically with the Co-op bank, after the first payment had been made to university (they seem to pay the tuition fee in quarterly instalments)? I have had trouble getting in contact with the bank recently as they have said they have been very busy with CDL applications still.

    I would have loved to have taken advantage of the new masters loans, but am not eligible due to previous postgraduate study.
    Ultimately only they can tell you. I think it would be quite unusual giving the fact they have paid the monely already, but this would require them to recalculate the interest to see if they could collect that from the government or you. Just get on the phone to them first thing tomorrow.
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    http://smallbusiness.chron.com/purpo...ture-3812.html
    http://www.bbc.co.uk/schools/gcsebit.../ictrev1.shtml
    http://businesscasestudies.co.uk/uni...#axzz4M37gpTfm
 
 
 
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