what are the best student freebies

Notebook

looking for a bank account suitable for my son. He will be living at home so will not require a loan of any type so looking for the best freebies available.
thanks

westferret

Get the one with the biggest free overdraft possible (usually hallifax), place the overdraft into a high interest account (eg sainsburys 6%) and get the interest as the freebie. Martin's posted this somewhere but i can't find it i'm sure someone else will.

QuirkyChemistry

This link will have a lot of info on bank accounts and money.

http://www.moneysavingexpert.com/banking/student-money-saving

If he doesn't need his loan then put it in a high interest account/ISA and make some money out of it. Then get a student account with the largest 0% overdraft and stooze it. Basically withdraw all the money and put it in a high interest account and make money from the interest.

It's still worth your son getting the loan even if he will not spend it. It can be put in an account making more money than he will be paying in interest and keep it for the future. It will probably come in useful for a deposit on a house or any other situation when he will need a loan. Cheapest form of borrowing he will ever get.

westferret

Regarding quirkychemistry the interest rate for loans is about 4.2% or around that whereas the bank account's give 6% so you can get profit from that as well. It may not be much but it all helps

BruceyBonus

westferret wrote: »

Regarding quirkychemistry the interest rate for loans is about 4.2% or around that whereas the bank account's give 6% so you can get profit from that as well. It may not be much but it all helps

E.g. If you can afford to pay the fees every year, take the loan anyway and keep the money in a high interest account:
£3145 @ 4.2% = £132.09
£3145 @ 6% = £188.70
Profit = £56.61 for first year on just the fees part of the loan

faerie_of_penguins

I don't know about other universities, but at mine the loan for the fees are paid directly to the university.

Lokolo

Theres 2 loans:

Tuition, directly paid to uni.

And Maintenance, paid to you.

andyrules

if he's going to be travelling around seeing his away-at-uni mates then it's worth considering the free 5 year rail card from Nat West.