Career Development Loans????

[michaelmedley]

Know this has probably been mentioned on here before BUT

Im looking at heading over to EFT (AP Programme) and one way to fund all the extra fees would be using CDL (upto £10,000)

Has anybody else used one of these or any other type of funding? ---apart from saving up----

Im looking at completing the training all the way through to obtaining my FI Rating out there. This will help me make some "little" money whilst out there in the big bad world of Flight Deck jobs

Any other tips?

Thankyou

[smith]

Done to death, check the search button, hope this helps

[michaelmedley]

brilliant I will spend a couple of hours sifting through CTC moaners then.

thanks

[BAe 146-100]

From the website:

What you can’t use a Professional and Career Development Loan for

a course from a learning provider based outside the European Union if an equivalent course is available within the EU (including the UK)

Therefore that rules out using one for EFT as far as I can see. Also, last time I contacted them (which was around 18 months ago) to use it for something else, they had approved companies which the loan was only useable for i.e if it wasn't on the list you couldn't get approval.

[michaelmedley]

BAE,

Ah i see, Good you mention that as when i rang EFT about it today they told me it would be doing them a favour too as they havent had a student use it for a few years so if i was to get CDL it would "re-instate" them on a list.....i wonder if thats the same list she mentioned?

Im going to call up CDL directly and just get the facts from them before i waste my time applying for the loans.

Thanks

[MartinCh]

CDL was changed to PDL or PCDL or whatever it's called now.

In the past US based schools with UK affiliation were approved for using the funds/loan.

Do not forget that unless you have no other options to get regular loan (??) for some extra spending/cost, if you don't do the course over long period (which is the time when interest covered by UK govt agency), it's not worth it.
The interest rates are higher than regular loans.
Also, it's through commercial banks who assess you just as if you applied for regular loan, so it's not 'guaranteed done deal' to apply for it.

I did consider CDL for Euro FI rating/or part of, rotary, but not anymore. Just not worth paying so much extra in interest.

It could work OK in your case, if you do 2 year course etc, but I'd not want to repay the interest at that rate.