Advice for someone still waiting on Student Finance

megswan

Hi, I was wondering if anyone knew of somewhere I could apply for a loan. I am 18 and studying away from home and need to pay my rent. My student finance application won't be processed for another month because my parent's circumstances changed mid-application. I don't have a job, or any other income because I've just moved cities so I know banks etc won't help.
Thanks.

happycamel_2

Without an income you are unlikely to be offered credit or it will be extremely expensive. Can your parents lend you any money at no or low interest? Do you really have no savings? Did you work over the summer or while you were doing your A levels?

Have you opened a student bank account? If so your best bet would be the interest free over draft that usually comes with it. Otherwise, approach your student support facility at the uni for help with a crisis loan but please, please, stay away from pay day loans.

talana

Go to your student's union helpdesk or university welfare service and ask about crisis loans. As your situation seems strictly temporary they should be able to help you.

DCFC79

Imknow it wont help for the moment but why not look for a part time job ?

no.1swimmum

megswan - do go to student union/ uni for help and also speak to the people ref rent if its via the uni they should be able to help. My eldest is in his second year and because of a mess up by student finance (for some reason they decided to input him as being at the same uni on two diffenet courses in two different years i.e second year on one and third year on the other) despite him contacting them constantly since January this year he still has no money and won't have for at least 10 weeks! his uni (loughborough) have been incredibly helpful, because of his sport his still living on campus and they have agreed to wait for his rent after student union got involved - I sent him back with boxes of basic foods and we are able to help him out at the moment so he hasn't had the need to ask for an emergency loan but there is only so much we can help. Please ask for help as I am sure you are not the only student in your position - I hope that it is all sorted out soon.

megswan

I went to my finance office at uni and they lent me £300 but in London that is basically two weeks rent. I also went to my bank but they won't open my overdraft until I have confirmation from Student Finance that my loan is on it's way, and that won't come through until 27th of this month apparently. I've been looking for jobs, but I have only been here two weeks and it's taking a while. I also can't afford the travel into central London to look everyday because I need to save money to get to University.
Is there any better alternative to payday loans? Because right now they look like my only option.

DCFC79

I wouldn't go near pay day loans as you could end up in the PDL spiral and nopt get out of it.

Ask your grandparents (if you have some) for some help ?