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Student Loans

Student loans are hard to get, and in most cases you'll have to deal with the Student Loan Company. Most mainstream lenders won't touch students either because of their age (many banks have an age limit of 21 or 22) or because they have little or no credit history.

Student loans generally mean one thing: money from the Student Loans Company, which you can find out about from your college or university and which gives you money that you pay back when you leave education and get a job. Other lenders are likely to show you the door: most mainstream bank sites have an age limit of 22, which means most students aren't eligible, and others simply won't lend money to anyone that isn't in full time employment.

The problem with student loans is that students are a bad risk for banks: no regular income means no regular repayments, and in many cases students – particularly new students – don't have a credit history. It's unfair, but banks often see students as alcoholic nutcases who'd only use the money to buy snakebite in the Union bar for the next few years.

That doesn't mean you don't have options: for example, many banks offer student accounts that give you an overdraft facility. However, if you're looking for a fairly large sum of cash then it's time to make an appointment with the Bank of Mum and Dad.