Career development loan - is there such a thing?

[Moneyq8]

I want to do a part time course to change my career (which is non existent thanks to Covid!) but am not eligible for a student loan as I took one when I was a student the first time around.

I can’t afford to pay for it out right (because of Covid - I lost my job back in March and spent my savings on surviving!). And I applied for a loan with my bank and I got declined - probably because I have no income of my own (now scared I’ve damaged my credit rating!), although DH earns he can’t afford to pay for this course for me.

Is this course something I need to give up on? Or are there such things as career development loans out there?

I am keen to do it because there are depressingly few jobs out there for me in my current industry, and I can’t see that changing any time soon. I really need a change of career!

www.gov.uk/career-development-loans

Google is your friend.

That’s weird because when I googled I saw it was a scheme that had ended! And was wondering if there was something else similar... but looks like I was wrong!

Thank you - will have a look into this one now!

Oh wait - it is that same scheme that has ended

I'm pretty sure you can get a student loan now if it's for a masters?

It’s not a masters, it’s whole new training. Since I have trained “at that level” before (degree - I did a completely different degree - albeit 20 years ago - already), I’m not eligible for another student loan. That’s ok, I had expected that. But wondered if there were any other loans available and not necessarily government loans if that’s not a thing.

I’m guessing probably not - am clutching at straws!

They are also postgraduate loans available:

www.savethestudent.org/student-finance/the-complete-guide-to-postgraduate-loans-for-masters-degrees.html

Open University have a loan scheme where you can pay monthly for your course. They also have a ton of free courses that you can access and that provide evidence of what you’ve studied which might help you to get a junior position in the area you’re looking into.

Also have a look at organisations offering professional qualifications, I did my Prince2 Foundation via a groupon offer!

There's NHS bursaries for second degrees if it's in health or social work you could do as a masters.