cheapest way to borrow money

hilla_2

My daughter is just coming to the and of a five year dentistry course. She is very money saving and has tried to work as much as she can over the past 5 years despite a very heavy workload with her course. She was receiving a loan of £1600 a term but for this 5th year they have cut this to £600 a term because of an NHS bursary. The very time she needed more money so she didn't have to worry or work they give her less. She is due to finish her course in a few weeks and is so broke (her rent is £270 a month and the £600 is supposed to cover 4 months rent and living expenses) she has decided to try to raise some money to pay her next months rent, go on a holiday and have a deposit to put down on a room to rent and pay the first month's rent up front when she takes up her 1st job as a dentist in Brighton. She will be earning a decent wage in August but needs about £3000 to see her through the next 4 months. She will then be able to pay it back ASAP as she can't stand being in debt

The question is what's the cheapest way to borrow so she doesn't have to pay much / any interest. She already has an 0 % MBNA credit card.
Any suggestions?

dmg24

Surely she can use her bursary?

Auzelia

in scotland (at least) NHS dentistry students can apply for a £4,000 a year bursary that (as far as I am aware) does not have to be paid back.

(think they may have to go to an NHS practice for a while after passing)

http://www.student-support-saas.gov.uk/student_support/special_circumstances/nhs_dental.htm

surely England, Wales and N.I have something similar?

CLAPTON

maybe her parents could help?

soon she will be very well off

Masomnia

Can she get access to an arranged overdraft? through a Student or Graduate Account?

That should cover some of it, of not the credit card might be a good option, she'll only be in debt for a short amount of time by the sounds of it, so interest shouldn't be a problem. Failing that, taking the smallest personal loan she can manage with might be the only option. Debt isn't always a bad thing, if it is managable.

And no, parents aren't always able to help out as much as they'd like.