Year 12s: what will be the first way you research your future options? >>

Help university money

Quick question;

I'm currently in my overdraft. When I get my student loan next month, does some of that get paid into the overdraft that I owe?? Or does my overdraft update each term?? I really hope that makes sense??

I'm with the Santander123 Current Student Account

Thanks :smile:

Reply 1

Thais Ribeiro

I’m sorry, I’m not good bank stuff, but I’m assuming you being in overdraft means your account is in negative (eg. £-20)? I think if you’re in negative then anything coming into that account will bring you back closer to the positive, or completely bring you back to a positive account depending on how much you’re in overdraft? Although don’t quote me on that because I’m not entirely sure

Reply 2

hallamstudents

Official Rep

Original post by aimee1014

Hi @aimee1014,

Yes, when your student loan comes in, your overdraft will be paid off with the income you receive. You shouldn't need to complete the process yourself but it's worth checking your balance when your student loan comes in to make sure that your overdraft is paid off.

Hope this helps
Ryhan