Whether you’re heading off to the university for the first or are returning for additional studies, furthering your education is one of the most important investment that you can make in your future.
Managing finances during this busy time can be difficult, but the good news is that financing option are available specifically with students in mind.
At CreditRaters.com, we help students to compare loans from across the UK no matter where you are in the education cycle.
Read on to learn more about the types of student loans available and what you can to improve your credit score for the future.
How Do Loans For Student Work?
Aside from the standard student loans that are available to university students, additional finance may be required throughout the term.
The vast majority of university students are unable to earn a substantial wage at the same time as studying, making it easier to be caught short financially.
Essential costs such as rent, food, utility bills, home improvements, vehicle repairs or even educational aids can all see costs adding up and we understand that an extra helping handed might be needed along the way.
Short term student loans can be a simple, cost effective solution, offering same day deposits straight into your student bank account which can be repaid over a chosen number of weeks or months.
I’ve Never Had Credit Before. Am I Eligible For Student Loans?
Yes! Just because you’re new to credit doesn’t mean that you’ll instantly be declined. At the end of the day, you need to start building your credit score up somewhere and tools such as credit builder credit cards and small, short term loans can be the perfect way to do that.
Although each independent lender has their own set of criteria, there are some minimum factors that you’ll need to have in place to be considered:
- Be a permanent UK resident
- Have a valid UK current account with a debit card
- Be able to afford the loan repayments each month
If you’d been refused student loans elsewhere then there’s no need to panic. We work with specialist lenders from across the UK market, giving you a great chance of accessing the funds you need.
How Can I Apply For Student Loans?
You can apply for student loans throughout your time at university, whether you need a short term fix or a longer term financial solution.
It all starts by comparing your options right here online at CreditRaters.com. We’ll help you to quickly and easily compare lenders from the UK market who will consider student applicants.
Answer the questions in our initial application honestly to give us the best chance of finding a lender who will say yes. Once your final application has been completed, you’ll receive an instant online decision as well as copy of your credit agreement. This will explain when your short term student loans will need to be repaid as well as your interest payments and total amount repaid.