don't have a penny to my name when I start uni

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tarmaclover
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Hello

I need some help, basically, I have no money whatsoever and I'm worried because uni starts on September 27th and I'm not sure when my loan comes in. I got the maximum amount (7k) but even that dosent look like enough as 5k will be taken for accommodation!!!

Anyway for fresher's and stuff, what can I do as I have no money to start off with and I think the loan comes in October. Is there anything I can do with sfe to get the money before?

Asking parents is not an option as we are not rich at all and we only manage to scrape through.

What do I do!!!
Thanks
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Klix88
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Nothing you can get out of SFE in advance. However a student bank account will offer you an overdraft facility, which is one way that others in your position can cope before SF comes through.
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tarmaclover
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(Original post by Klix88)
Nothing you can get out of SFE in advance. However a student bank account will offer you an overdraft facility, which is one way that others in your position can cope before SF comes through.
So if I open an account now, will it be open in time for fresher's? How much overdraft am I likely to get when it is opened? Do they look at credit history as mine is poorly scored as I don't have any!

Thank you
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JasonASConnolly
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You can check the dates of your payments on your account on the student finance website. If you already have your finance in place then you should get your first payment on the first day of the course. As for the amount after accommodation is paid, welcome to student life. After my rent and council tax is paid, I have £40 a week to spend. I'm lucky I have a partner who earns money to pay the bills.
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tarmaclover
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(Original post by tarmaclover)
So if I open an account now, will it be open in time for fresher's? How much overdraft am I likely to get when it is opened? Do they look at credit history as mine is poorly scored as I don't have any!

Thank you
Also would a university even consider me for a hardship fund of some sort to tide me over? What would I do in that case. I'd hate to turn up for the first week of fresher's in a homemade toga made from bedding from a hostel 😢
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llamaspoon
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Get a job if you're worried about 'only' having £2k left over for the rest of the year.
In terms of freshers, your best bet is to get a student bank account with an overdraft, although your student finance should be paid in on the first day of your course.
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tarmaclover
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But the day I move in and the day the course starts is over two weeks. I have a two week gap so the job thing isn't going to be an option. Just something to tide me over and settle in until I get my first payment.

I'll try getting a student account tomorrow
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writeleanor
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(Original post by tarmaclover)
I'll try getting a student account tomorrow
If it helps, Santander's Student Current Account offers a free 4-year railcard. HSBC gives a £60 Amazon voucher. I think there are perks with Halifax and NatWest (if not, they are still recommended anyway though). The Co-op Bank's Student Account is meant to have some good factors too.

You can also apply online with most of these banks.
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tarmaclover
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(Original post by writeleanor)
If it helps, Santander's Student Current Account offers a free 4-year railcard. HSBC gives a £60 Amazon voucher. I think there are perks with Halifax and NatWest (if not, they are still recommended anyway though). The Co-op Bank's Student Account is meant to have some good factors too.

You can also apply online with most of these banks.
Thanks for your help!
Do you know if I'll get an overdraft by fresher's?

Secondly, Santander has a £1500 overdraft, will I get that straight away? How likely is it?

Thanks!
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Tiger Rag
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Your overdraft should be there instantly. You, as mentioned, may not get the full overdraft.
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Mathlover123
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You will get the full overdraft (assuming no previous debts). But you will only get this once the first load of student finance goes in. I started with a £500 debt that then went up to the full £1500 as term started. Also more importantly 2k is an okay amount to live on for a year (assuming you are in halls and there are no other bills)
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kjd-x
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(Original post by tarmaclover)
So if I open an account now, will it be open in time for fresher's? How much overdraft am I likely to get when it is opened? Do they look at credit history as mine is poorly scored as I don't have any!

Thank you
Hi! I opened a student account today with Barclays as my employer failed to pay me on time and I desperately needed the overdraft for my accommodation deposit. Anyway, I got my normal current account upgraded straight away in the appointment (not sure if it works the same if you don't already have a Barclay's account) and they also offer you an overdraft of £200 there and then, which I took. When you get your loan/grant from student finance you can then apply for an up to £2000 fee-free overdraft. The initial £200 overdraft which you are offered may help you straight away if you're stuck for Freshers week or whatever Hope this helped in some way.
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kjd-x
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(Original post by tarmaclover)
So if I open an account now, will it be open in time for fresher's? How much overdraft am I likely to get when it is opened? Do they look at credit history as mine is poorly scored as I don't have any!

Thank you
P.S. - I don't have any credit history either, I don't think they check at Barclay's because I had no trouble at all
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Joeberry96
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Hello,

Starting uni this September, I've requested student finance but my place at uni cannot be secured as my student finance is not in order. What do I do? How can I secure my place while I wait for my confirmation of my student finance? Does this mean I cannot start uni in September if it isn't confirmed before start date? Never really done this before and don't no anyone who has either so advice needed ASAP. Thanks
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mahad1912
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(Original post by kjd-x)
Hi! I opened a student account today with Barclays as my employer failed to pay me on time and I desperately needed the overdraft for my accommodation deposit. Anyway, I got my normal current account upgraded straight away in the appointment (not sure if it works the same if you don't already have a Barclay's account) and they also offer you an overdraft of £200 there and then, which I took. When you get your loan/grant from student finance you can then apply for an up to £2000 fee-free overdraft. The initial £200 overdraft which you are offered may help you straight away if you're stuck for Freshers week or whatever Hope this helped in some way.
I'm with barclays now to on the current account. Do they have any extras or freebies for the student account?


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Joeberry96
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  • Hello,

    Starting uni this September, I've requested student finance but my place at uni cannot be secured as my student finance is not in order. What do I do? How can I secure my place while I wait for my confirmation of my student finance? Does this mean I cannot start uni in September if it isn't confirmed before start date? Never really done this before and don't no anyone who has either so advice needed ASAP. Thanks




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kjd-x
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(Original post by mahad1912)
I'm with barclays now to on the current account. Do they have any extras or freebies for the student account?


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From what I can remember, you get the £200 fee-free overdraft straight away (already got mine) and then when your student finance money comes in, you can then apply for up an up to £2000 overdraft fee-free, and also £3000 with small fees paid every day (£1 I think). You can also get insurance for your possessions, which you can get 10% off before October 28th - the coverage is from £3.33 per month. You also get the normal stuff like mobile banking, and Pingit which lets you send/receive money to your friends and family really easily (you can send up to £750 to family/friends per day)
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C0nfused_Student
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I'v opened a Santander 123 student current account, when do i get access to my overdraft? Was hoping to use it for the first couple of days of freshers as my student loan comes in a few days into freshers.

Also, is it possible to open up more than one student account at different banks?


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Dana.
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(Original post by C0nfused_Student)
I'v opened a Santander 123 student current account, when do i get access to my overdraft? Was hoping to use it for the first couple of days of freshers as my student loan comes in a few days into freshers.

Also, is it possible to open up more than one student account at different banks?


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You can't open more than one student account, It's usually in the T&C's that you can't.

Pretty sure with my Santander account i had to pay in money first before the overdraft became active.
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Tiger Rag
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(Original post by Dana.)
You can't open more than one student account, It's usually in the T&C's that you can't.

Pretty sure with my Santander account i had to pay in money first before the overdraft became active.
This is generally the case. (to both points)
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