The Student Room Group
Students at Cornwall campus, University of Exeter
University of Exeter
Exeter
Can't think of any better course of action than the one you've described, ie to throw yourself upon the mercy of the accomodations office or perhaps the Students Guild (they do crisis loans etc but I wouldn't expect much given that it's your own fault).

Most practical idea would be to try to convince your bank to increase your overdraft by the amount you need? If so you could just increase your OD by that amount for approx nine months, which at 15% interest would cost you about £30ish quid.

Alternatively find a friend who would be willing to pay the University the deposit with explicit instructions that it is to be paid back to THEM (eg direct to their bank account or onto their debit card), that way they the Uni would owe them and not you.

All accomodation requires a deposit, you'd be paying twice as much upfront with a private landlord. Plan better next time, and read stuff more carefully, but I hope you get through OK!
Students at Cornwall campus, University of Exeter
University of Exeter
Exeter
Reply 2
Be
(edited 9 years ago)
hmbnimbus
Guess there's no other way then: To the bank and to further debt!


You will find this is a theme of your student life! :woo:
hmbnimbus
Ok, so I've just been putting the final touches to my accommodation acceptance for Cook Mews, when I realise, much to my own absent-mindedness, that we have to pay a £300 deposit for our accommodation?

The thing is, I don't have £300. I'm 27 and have been looking after myself over the past few years. I don't have any support from family and ultimately, I have no-one or nowhere to turn to in order to obtain this money.

Now, I am prepared to work, be frugal with my money etc. but what worries me that if I ask the accommodation office to defer my deposit payment until I receive my student finance, that this will take £300 out of my first finance payments and leave me essentially penniless for the first few months.

I understand that my best bet here is to speak to the accommodation department, I am just seeking general advice on how to tackle this issue.

Thanks,

Barry


They probably won't let you defer the payment til you get student finance, as I've worked in an accommodation office for another uni and this wasn't really an option for anyone who phoned in, as they needed some kind of guarantee that the room would be taken up, other than someone just accepting the contract. What they might do though, is let you pay a reduced amount now, say half of it now and half of it when you get your student finance through. I would definitely ring them to see if that would be a possibility. £300 is a lot of money and I guess if you really play on the fact you've got a lot to pay at the minute with the rent on your existing flat, they would probably come to some sort of part-payment deal with you if you wanted.:smile:
Reply 5
shortysally
They probably won't let you defer the payment til you get student finance, as I've worked in an accommodation office for another uni and this wasn't really an option for anyone who phoned in, as they needed some kind of guarantee that the room would be taken up, other than someone just accepting the contract. What they might do though, is let you pay a reduced amount now, say half of it now and half of it when you get your student finance through. I would definitely ring them to see if that would be a possibility. £300 is a lot of money and I guess if you really play on the fact you've got a lot to pay at the minute with the rent on your existing flat, they would probably come to some sort of part-payment deal with you if you wanted.:smile:


I'll definitely do that if Santander don't give me a student account... :smile:

Many thanks for the detailed advice.
Reply 6
hey man ive had really difficulty getting a student bank account with an overdraft (as i need it to pay my deposit). HSBC aare the only bods that gave me an account with one but it still wasnt enough to pay all the deposit what with money i owe to my house mate atm and the accomodation office have said that it is ok to pay it then but only if you call and arange it with the office. I have two weeks to pay after enrolment to allow time for student loan etc to kick in. Hope this helps youy man.

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