I'm a higher ed student with bad credit who needs a student account - help!

Lozzles

Hi

I'm starting university for the first time ever in just over a week and really pleased as think it will be the second chance at life I need.

Thing is, I have been offered a grant but it's only for £3385 which will not last anywhere near the year.

I tried applying for a student account with the Co-op but got the knock back.

I did have terrible credit issues a few years ago but everything got paid off in full and I haven't had, or applied for any credit since.

What can I do? I really need extra financial help.

Thank you

Laura
26

Emmzi

Sorry to be flippant, but most students get a job.... or save up before they start from eg summer job.

Have you checked your credit report?

AceCobra1

Depending on how much capital you have, I would suggest match betting... Have a look at the gambling loophole forums. You can make WAY more than a number of full time jobs if you have time and good capital. I have been doing it for last 3 weeks and think I'm about 1.5 - 2k up already. Made 485 already this week and counting. It is truely risk free. Read away! Think u'll be glad u did:money:

student_advisor

Lozzles wrote: »

Hi
Thing is, I have been offered a grant but it's only for £3385 which will not last anywhere near the year.

The amount you have been awarded sounds like the non-income assessed loan. Are you sure it's a grant? As you are 26, you will be assessed on your own income and that of any partner you live with, not your parents' income.

I would check your financial notification to see what it says exactly. If you have no income and no partner's income, you'd be able to get £2765 grant (NB this is the max grant you can get from SLC) and £3275 loan total of £6040 for the year.

You can also apply to the Access to Learning Fund, see the thread for more info.

dmg24

I too do matched betting, but I would not advertise it as 'risk free'. Certainly look into it as an option, but make sure you read all the information (several times over), and don't do anything until you understand it completely.

melancholly

i'd try a different bank like natwest, possible HSBC... halifax are also an option but don't tend to give big overdrafts very often.

you can also get a part time job to keep you going during the term and with full time work in the holidays (if that's possible), you'll be amazed how you can manage!

if you're in real financial trouble, look at the access to learning thread on this board. budget from the start of the year (don't go mad in freshers' week and spend half your money for the term!!) and you should be able to manage.

you may find it helpful to post an SOA on the DFW board as there are people on there who can help maximise incomings and minimise outgoings to get the most out of your money. don't forget the 25% discount on your council tax you are now eligible for.

Lavendyr

If the problem is that the grant is not enough to cover the year, your first priority should be to look for a part-time job to support yourself during term-time and where you will be able to work longer hours in the vacation (or find other jobs for the vacation). Also look at your outgoings and see what you can cut down. Having access to an overdraft won't solve the underlying problem, it'd just postpone it for a while as you would always have to pay the money back and as you say you've been in credit troubles before, you should be very careful about borrowing again lest old habits creep up on you without realising - it is just so easy to spend money at uni.

AceCobra1

dmg24 wrote: »

I too do matched betting, but I would not advertise it as 'risk free'. Certainly look into it as an option, but make sure you read all the information (several times over), and don't do anything until you understand it completely.

Well, everything comes with a risk... but with match betting, I would say you will only lose cash if YOU make a mistake. Coz the program already calculates weather u will make / lose money... and if u make money, thats the 'bet' to go for :T

Wolfsbayne

melancholly wrote: »

i'd try a different bank like natwest, possible HSBC... halifax are also an option but don't tend to give big overdrafts very often.

you can also get a part time job to keep you going during the term and with full time work in the holidays (if that's possible), you'll be amazed how you can manage!

if you're in real financial trouble, look at the access to learning thread on this board. budget from the start of the year (don't go mad in freshers' week and spend half your money for the term!!) and you should be able to manage.

you may find it helpful to post an SOA on the DFW board as there are people on there who can help maximise incomings and minimise outgoings to get the most out of your money. don't forget the 25% discount on your council tax you are now eligible for.

Full time students dont pay ANY council tax if they live on their own or in student residence. Its only if you live with a non-student that council tax is reduced to 75%.

melancholly

Wolfsbayne wrote: »

Full time students dont pay ANY council tax if they live on their own or in student residence. Its only if you live with a non-student that council tax is reduced to 75%.

yes sorry - meant that but obviously wasn't crystal clear in my post!