Best account for a student

mrs_T

DD lives at home and is currently a college student working part time, she has a place to go into 3rd year uni in September. She has saved £7k from working over the past 4 years and has never had student loans/bursary/overdraft etc. As a non-taxpayer what is the best current account for her, where should she put her savings and is it worth trying to get a student loan to stooze? She has no direct debits so some current a/c's aren't suitable though I'd be happy to transfer in and out money to her a/c each month.

innovate

She can easily get a couple of DDs set up. She just needs to open a couple of Tesco savings accounts and pull a pound into each every month. Tesco will process these pulls as DDs.

The bigger Q is whether she, as a student, would get accepted for current accounts.

Someone else will come along soon to comment on the student loan stoozing, I know nothing about the loan rates and T&Cs.

Lastly: she shouldn't forget to fill in a R85 for gross interest, whatever account she ends up with.

atypical

mrs_T wrote: »

is it worth trying to get a student loan to stooze?

This is no longer possible as the interest rate for post-2012 loans is RPI+3% (currently 6.3%).

mrs_T

Thanks but don't know if this is the case in Scotland, can't see it on the SAAS website.