If your contracts are anything like mine at mill street then the rent will be taken from your bank account 4 days BEFORE your student loan is paid in! It states in contracts that payment will be drawn from you account not before the 16TH of september (clarified with the student accomodation service to mean on the 16th) Yet it also says that the loan will not be paid into your account until you sign the enrolement register. According to the freshers week timetable you only sign the register on the 20th. This means that around £1000 will be withdrawn from your registered bank accounts on the 16th, though will not be paid in until the 20th. As you may know this is impossible because non-existant money cannot be withdrawn. I contacted the student accomodation service and two seperate advisors told me that the only solution is to GET A CREDIT CARD! That way the money can be withdrawn from your credit card account on the 16th, then when the loan is paid into another account you can pay the relevant amount off the card. My advice however is to talk to your bank manager first then apply for a card only if there is no other way. I just thought you might like to know and then you can check your contract and freshers week timetable to see if this affects you also. However given that the earliest anyone can possibly enrole would be two days after moving in day it is probable that many people are.
Yeh this is what we've been discussing in the other thread. I keep getting sidetracked so haven't got around to calling them yet to sort anything out.
I think its a bit irresponsible of the accomodation to suggest getting a credit card to pay the rent out of though. Thats the way I stuffed up my finances last time
I garauntee that if you do call them you will get the same response, although you can just cut up the card afterwards, it still sucks that we are required to get one.
I dont think its an option. I know I wont get a credit card for a grand limit and I'm already on a £1400 overdraft so Im gonna need to sort something out
Can you request the money is taken a few days later? Contact your landlord person...
This happened to us at Kirkstall but just with the April payment - it was due before the loans - and they altered the payment date to coincide with the loans.
I decided to go via bank transfer but I dated it 28th September 2006 for my Bank Manager mandate.
Err surely they can only withdraw on that date or later... :\
Yours is different though because you're at Opal aren't you?
I got no problem with paying a month in advance and then the remainder when the loan is cleared. Its more realistic I think.
Just wish the student loan company would send me the payment dates through and my contract from the uni would come too so I can phone up and get it sorted
Personally i dont know whats going on in the accomodation office!!! i can understand that there stressed out because this is there busiest time of year...but still...telling new students that the only way to pay their 1st intallment by credit card is rediculous.
An alternative for those of you who are able could be the student overdraft. With natwest you get £1200 for your first year (which is a touch when the beer money runs low)
But more importantly ppl, i really think that the met paper should hear about this, i mean its distgusting really isnt it? + abertoon is correct in saying that you CANNOT get a credit limit of £1000 when u start uni, well iv never been able to find a compny that will do that for me!
I've applied for the natwest account and a student credit card with a £600 limit so if I get those I will be EXACTLY covered for Liberty park's £1800 first installment. Here's hoping I get the full limit...
When I got the natwest credit card my initial limit was only £350. What are you going to do for the first few days to maybe a week at uni if all of your overdraft and credit card is used?
Freshers week can be expensive and you wont want to miss it or be limited to a very little budget.
Is £1800 about 50% of the years rent due in just 1 payment? Thats ridiculous asking for so much money before the loan is due. I dont know anybody who will have a spare £1800 lying around. The grand I am expected to pay is quite enough to struggle to find
The money should arrive in your account on the 20th Sept (wednesday) for what little consolation that is, at least you won't miss out on the whole week.
When i signed my accommodation contract i specified that the first payment will be taken out of my account on the 29th of september (the latest date possible), but if you are in a worse situation then I would ring the finance office at Leeds and talk to them about it, the uni should know that your loan will be coming through shortly (it wouldnt take them much to find that out), so if they are so impatient to attempt to take money that does not exsist in a bank account then I suggest you make a complaint. This won't be the first time they've had to deal with stuff like this so I'm sure there will be some way to sort it out.
Their getting a cheque thats gonna bounce from me - **** getting a credit card. Very badly thought out by the people in charge at Mill street.
I still havent had my contract for Cardigan Road, should i be worried?? Have you guys only just got yours? This all sounds so awfully organised doesn't it?
Was your offer conditional? If so they were probably waiting for it to go unconditional before sending contracts out. If not then that's PANTS!
Im waiting for Cardigan Road too and on unconditional. Guess we're last on the list to get them
thats lloyds TSB btw, i have one already
Have a look at Halifax, a maximum of £1750 for the first year. Yeh so its more to pay off in the long run but if it meant you got your accommodation paid off and then your loan went into that account you'd be sorted.