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New student - Student bank account when is overdraft available?
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Spendless
Posts: 24,644 Forumite


Hi.
Asking for daughter's friend who has a degree offer for a drama school. Many drama schools don't have halls so instead students stay in private lets. This requires a deposit upfront, which is money that friend doesn't have until the student loan comes though. I understand on A levels result day, friend can open up a student bank account showing their degree offer. Would any overdraft facility be available to use then or not until the first instalment of student loan is paid? Friend's family aren't in a position to help out or lend any deposit money upfront. I said I'd look into what options are available to find the rental deposit money.
Asking for daughter's friend who has a degree offer for a drama school. Many drama schools don't have halls so instead students stay in private lets. This requires a deposit upfront, which is money that friend doesn't have until the student loan comes though. I understand on A levels result day, friend can open up a student bank account showing their degree offer. Would any overdraft facility be available to use then or not until the first instalment of student loan is paid? Friend's family aren't in a position to help out or lend any deposit money upfront. I said I'd look into what options are available to find the rental deposit money.
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