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    Hello,

    When can I get my student loans? It's just that my University says it's going to start allowing students to apply for accomodation in April but I need to pay a £350 deposit. I really don't have £350 so I rather need it unless there's another way.
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    (Original post by similarBlank)
    Hello,

    When can I get my student loans? It's just that my University says it's going to start allowing students to apply for accomodation in April but I need to pay a £350 deposit. I really don't have £350 so I rather need it unless there's another way.
    September, unless you can get an overdraft then you might need to look at selling things or getting a job to pay for it.
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    You won't get your student loan until after you have enrolled and physically started attending uni - your uni will confirm you have started attending and then your student finance will be given to you. You won't get it beforehand. If you can't borrow the money off family or save up money from a job etc then you will need to get a student bank account and get an overdraft.
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    You usually get your student loans when you actually start uni

    edit: I'd do what everyone else is saying - you might want to invest in an overdraft.
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    Would someone mind explaining to me what an overdraft is and all that?

    From what I've seen an overdraft is basically like a credit card in which you can pay for stuff even though you don't have any money.... The question I have is, say I put £350 on my overdraft, I'd obviously have to pay it back but would I pay back the £350 or would I pay back the £350 AND interest?
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    (Original post by similarBlank)
    Would someone mind explaining to me what an overdraft is and all that?

    From what I've seen an overdraft is basically like a credit card in which you can pay for stuff even though you don't have any money.... The question I have is, say I put £350 on my overdraft, I'd obviously have to pay it back but would I pay back the £350 or would I pay back the £350 AND interest?
    It depends if it's an interest free one or not.
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    (Original post by similarBlank)
    Would someone mind explaining to me what an overdraft is and all that?

    From what I've seen an overdraft is basically like a credit card in which you can pay for stuff even though you don't have any money.... The question I have is, say I put £350 on my overdraft, I'd obviously have to pay it back but would I pay back the £350 or would I pay back the £350 AND interest?
    You should be looking for a student account that has the interest at 0% so you'd literally just pay the £350.
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    (Original post by similarBlank)
    Hello,

    When can I get my student loans? It's just that my University says it's going to start allowing students to apply for accomodation in April but I need to pay a £350 deposit. I really don't have £350 so I rather need it unless there's another way.
    To add though you generally can't get a student overdraft until your offer is unconditional and some banks don't start offering them for new students til the summer anyway.
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    I contacted the accommodation department of my University (Sunderland) and they allowed me to just pay £50 of the £300 and pay the remaining balance when I get my student loan in September. Maybe contact your university accommodation department and see if they are able to do something similar?

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