Getting a Student Loan

To get a student loan above and beyond the usual student loan company amount then you will need to go and petition the bank.

Most large bank branches, and particularly those in university towns and cities, will have a student support officer or student finance specialist in the branch nearest to the university.

So the first step is to phone up and ask to speak to one of them and make an appointment to see them with regard to a loan.

Then when you meet up with them they will ask standard questions such as how much you want and what you want to use the money for - e.g. buying books is a good answer, entertaining your friends is not.

They will then outline the various options, the pay-back terms and interest rate and so on. If everything goes well, then you should be able to fill out the paper work there and then and then get the loan.

When it comes to using the loan, treat it as such - realise it is not your money and you will have to pay it back, so don't splurge it all at once but make it last as long as you possibly can.

When it comes to repaying it then you should make sure that you pay off the required amount each month, even if you are offered repayment holidays you should always look to pay off any debt as quickly as you can. To that end if you leave uni and get a particularly good job, then check what the terms are on overpayments - can you pay off the loan amount more quickly without penalties for instance.

Having a student loan is fine, as long as you use the money well and pay back the loan in a timely manner.

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