I am definately not a supporter of incurring more debt, against a background of former insolvency, however there is responsible borrowing and irresponsible borrowing.
In my book, taking on a student loan to help with further eduction has got to be a demonstration of responsible borrowing, and if the Student Loans company are prepared to share that risk with you I would go for it. However, I would also at this point in time formulate a repayment plan in your mind for the future, and ensure that the loan is paid off as soon as you possibly can rather than just by minimum instalments, and choose a subject where you will be sure to get a better paid job. In this way you will feel that you are doing something responsible towards rebuilding your future.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
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