student loan

lollipop1_2

Hi there,
hope someone can help. My daughter is due to leave me for Uni in Sept and she is beginning to panic about her finances.
She has been with the Natwest for over 10 years now and has recently upgraded her account to a Student one. She asked for a simple £250 overdraft to start her off with and she was refused because of her credit rating, now she is beginning to panic that she will have to turn down her place because she wont be able to afford to live.
Natwest werent very helpful, just a `no` and thats it......regardless if she`d been with the bank for over 10 years and it has been an active account having money go in & out as she does have a little part time job.!

Should she go into the branch and make an appointment with an advisor?
Any suggestions?
:mad:
thanks

CLAPTON

why does she need an overdraft to go to Uni?

in any event she can apply elsewhere for a student bank a/c in august once she gets her ucas form

brians_daughter

CLAPTON wrote: »

why does she need an overdraft to go to Uni?

I second that.

She will live the same way every other student does (me included) by planning a budget and sticking to it.

She will have the opportunity to apply loans and grants (if entitled to a grant) and she should be looking at p/t work alongside her studies.

There is no reason a student cannot work(unless doing nursing etc where long placements are involved - but even then it is doable)

If she is living away from home come June/July time she should be sending her CV to all local pubs/shops etc in anticipation for Septemeber starts, if she is living at home she should be looking now.

I am a mature f/t student with 2 young kids and i still mange to work 25 hr per week without it impacting my studies.

More info on entitlement to loans/grants here...
http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680089&_dad=portal&_schema=PORTAL

This is the student calculator that will give a guide as to what she is entitled to

Its

elfen

Has she applied for her finance? Get her to do it ASAP, considering all the trouble there was for this academic year (2009/10) and I was one of the unfortunate people left without money for months (still not fully sorted, they owe me money still)

As others have said, get her to look at getting a part-time job (even if it is something like cleaning, it's better than nothing) and see about saving some of her wages to get her through. The only thing that need be a worry is the deposit for accomodation (if she needs accomodation) and possibly between you and her you could start to get that together (if she can't find a job, you give her chores around the house and if you can pay her a little, with the proviso it goes into a savings account in both names and is to be used to fund accomodation - with any left over to go towards if she has any mishaps with SFE - they pay late, etc etc - and if not it can go to driving lessons or similar)

She WILL need to budget, and if you do this at home, it may be best to show her now, letting her know how much food/insurance/phone bill/washing costs, so she's aware that she needs a certain amount. You can bail her out, but only if you deem it necessary (eg, her card has gone missing and can't access her account - can send her a postal order registered post, or a gift card for the supermarket for her to buy food)

vaporate

brians_daughter wrote: »

I second that.

She will live the same way every other student does (me included) by planning a budget and sticking to it.

She will have the opportunity to apply loans and grants (if entitled to a grant) and she should be looking at p/t work alongside her studies.

There is no reason a student cannot work(unless doing nursing etc where long placements are involved - but even then it is doable)

If she is living away from home come June/July time she should be sending her CV to all local pubs/shops etc in anticipation for Septemeber starts, if she is living at home she should be looking now.

I am a mature f/t student with 2 young kids and i still mange to work 25 hr per week without it impacting my studies.

More info on entitlement to loans/grants here...
http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680089&_dad=portal&_schema=PORTAL

This is the student calculator that will give a guide as to what she is entitled to

Its

LOL rubbish. Every friend of mine I knew during the period 2006-2009 couldn't get any form of part-time work. One student I knew even tried for toilet assistant lol nothing. Nor bar work.

As for the overdraft, it saved my life. My parents paid £0 for me and I firmly believe in the notion of paying for one self.

[Deleted User]

Agreed the days of students being able to get p/time work are well and truly over,as for the natwest they offer new student accounts £1250 o/draft in year one,if they wont give it to her tell them to shove it and try somewhere else,but not until august

Lokolo

vaporate wrote: »

LOL rubbish. Every friend of mine I knew during the period 2006-2009 couldn't get any form of part-time work. One student I knew even tried for toilet assistant lol nothing. Nor bar work.

As for the overdraft, it saved my life. My parents paid £0 for me and I firmly believe in the notion of paying for one self.

I've managed to get 2 jobs in the 2 years of uni I have done so far. Plus summer jobs in the summer.

Maybe its the people applying?

Already planned continuing job from my second year in my final.

I don't know any (rl) who has failed to get a part time job whilst at uni.

I don't think students should be relying on overdrafts although I am sure they are handy.

ALSO bare in mind not all banks give students overdrafts until after the summer when they actually go.

housebuyer_abc

woodbine wrote: »

Agreed the days of students being able to get p/time work are well and truly over,as for the natwest they offer new student accounts £1250 o/draft in year one,if they wont give it to her tell them to shove it and try somewhere else,but not until august

It's not her credit score thats the issue here (well it is but its a different story).

Once whe has accepted and formally begun a course at a recognised university she will be eligible for the overdraft. They won't give it to her in advance.

Of course they can if they so choose opt never to give an overdraft, it's their cash after all

[Deleted User]

Lokolo wrote: »

I've managed to get 2 jobs in the 2 years of uni I have done so far. Plus summer jobs in the summer.

Maybe its the people applying?

Already planned continuing job from my second year in my final.

I don't know any (rl) who has failed to get a part time job whilst at uni.

I don't think students should be relying on overdrafts although I am sure they are handy.

ALSO bare in mind not all banks give students overdrafts until after the summer when they actually go.

official figures show that 65% of students looking for p/time or vacation jobs cant get one !
lets face it with the unofficial unemployment figure at almost 5 million how on earth could they?

Oldernotwiser

Assuming that the daughter is an independent student (going on the information given) she should be able to manage on her student funding, even without a part time job.

dmg24

woodbine wrote: »

official figures show that 65% of students looking for p/time or vacation jobs cant get one !
lets face it with the unofficial unemployment figure at almost 5 million how on earth could they?

Can we have a linky to these figures please?