career development loans

[ChuffingHell]

Am about to start a on eyear uni course for which I'm eligable for a career development loan.

having had a quick read on the net, I can't see what the big difference is between that and a normal loan. does anyone have any experience of this?

[Ammy]

Big, big difference is the fact that a regular loan you start paying it back straight away, with the CDL you only start paying it back one/two month after your course has ended. This is because it is a 'deferred repayment' loan.

The Learning Skills Council pays the interest on it whilst you are studying (and for the month or two afterwards). So basically you don't have to worry about the loan whilst you are no your course.

The bank offers you a choice of interest rates depending on the length of the term you choose.

I got a CDL last October from Barclays for my Masters course. I won't start paying it back til Oct/Nov this year. I personally found it was very easy and quick to apply for.

Find out more from www.direct.gov.uk/cdl, there is a link on the site so that you can get a free phone call from an CDL Advisor who will answer any questions you have.

[ChuffingHell]

Thanks for that Ammy.

I've actually just requested an application from from Barclays. I

I bank with Smile so thought applying to the Co-Op would be easiest (because they're part of the same group) but they're not taking any applications until the 25th September and I have to pay me fees on the 29th!

Do you have to open (or already have) a Barclays current account to be successful in your loan application? They asked me whether I had one when I called - i said I didn't and she still said she'd send me a form so I guess either it's not a problem or you have to open one retrospectively.

Finally, you said they were quite quick - exactly how quick is quick. Essentially, I'm wondering what my chances are of getting it by the 29th, assuming I'm successful - although I think i'm quite okay on that).

I should have been a bit more prepared but my employer was going to pay for it but has now decided they're not. So I have to think on my feet quite quickly and only came across the CDL yesterday.