Balance transfers for a struggling student

anna_banana_2

Hi, I have returned to study as a mature student to train as a nurse in London and I'm currently almost 2 years through a 3 year course, and struggling.

I do receive a bursary from the NHS, but at £500 a month it doesn't even quite cover my rent here. I am able to do some part time work, but due to the nature of the course (often working full time hours in hospitals) it's very unpredictable and I have sadly now got almost £5,000 on my Barclaycard and the interest/minimum payment is too much for me to pay off per month.

I have put in an application to my college for support but as a mature student I am not eligible. Ideally I am looking for any advice on balance transfer options for students/low earners. I have tried applying for Martin's top options for balance transfers from this site but have been turned down on all occasions so far. Could anyone suggest any other avenues?

Any advice would be greatly appreciated!!!!!!!!

longtermplanner

You aren't going to get a balance transfer. Only people with good incomes and credit records will get one, you need to cross this off the list of possibles.

If you can't pay the minimu to Barclaycard, you are going to have to default on the debt. Is this your only debt? If it is, write them a letter explaining your situation and proposing £1 a month until your course is finished and you are employed.

If you have other debts, these all need to be considered together.

You need to be picking up some hours paid work every week, to stop your debts getting worse. Even if this means working very long hours.

(I am assuming that you aren't a single parent with children, in which case you should be getting housing benefit.)

Sazzie23

anna_banana wrote: »

Hi, I have returned to study as a mature student to train as a nurse in London and I'm currently almost 2 years through a 3 year course, and struggling.

I do receive a bursary from the NHS, but at £500 a month it doesn't even quite cover my rent here. I am able to do some part time work, but due to the nature of the course (often working full time hours in hospitals) it's very unpredictable and I have sadly now got almost £5,000 on my Barclaycard and the interest/minimum payment is too much for me to pay off per month.

I have put in an application to my college for support but as a mature student I am not eligible. Ideally I am looking for any advice on balance transfer options for students/low earners. I have tried applying for Martin's top options for balance transfers from this site but have been turned down on all occasions so far. Could anyone suggest any other avenues?

Any advice would be greatly appreciated!!!!!!!!

Hi Don't have any great advice for you, but I do empathise, I did an NHS supported course 2004-2007 and it really does take its toll, although obviously we are lucky we got lots of fees paid and a bursary, it is still tough. Take heart that year 2 is usually the worst - no light at the end of the tunnel & all that. I understand your long hours will make it extremely tough to work as you will have study to do outside working time & you need to be on the ball for work as making mistakes there due to being tired will not help you. I was lucky enough to be able to get support from student loan co, although I've only just paid it back :eek: can you get that on a nursing course? Have you been to your uni & asked for help? Would rellies be willing to shore you up for a while?

Obviously accom is expensive, any chance of moving to a cheaper place/sharing with someone else ?

Regards Barclaycard, remember they are not a priority debt and you might have to consider asking them for a repayment plan until get into FT work, this will obviously impact your credit rating, but if you can't pay it anyway this will have been damaged. If you took out the barclays payment, could you stay within your budget without using the CC or other debt.

Maybe stepchange or national debt line might have some suggestions ?