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Loan or not to loan?
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I believe 'student loans' are offered to students at UNI only, you may be able to get a 'student' bank account at Natwest, but they will want proof you are studying, you may be able to get an overdraft, but as someone with huge debts which started with a credit card when I was 18 and has spiralled until now at 40 is standing at £30000, (with husband with same amount), and now facing bankruptcy, I would highly recommend you dont start on this very slippery slope of debt for a holiday, you have your whole life ahead of you, if you cant afford to put save a little bit each month, how would you make repayments? I really understand you want to go away, but debt is evil!
I hope you make the right decision.
BSC 343 - AD March 2012
:smileyhea Take just one day at a time, you never know what tomorrow will bring....Be Happy! :wave:0 -
PS. If you DO decide to borrow, a student overdraft is interest free, a credit card is probably the least per month repayment, but most expensive long term:
£1000 at a regular monthly payment of £20 will take more than 7 years to pay off, and thats if you never use it again! ( is any holiday worth 7 years of debt, a weekend away is all over in 3 days... 2555 days to pay for it)
http://www.moneysavingexpert.com/savings/pay-off-debts
http://www.thisismoney.co.uk/credit-card-reality-calculator BSC 343 - AD March 2012
:smileyhea Take just one day at a time, you never know what tomorrow will bring....Be Happy! :wave:0
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