The Student Room Group

payday loans

what's the best payday loan ? i am well into my student overdraft. dont have money for rent. student loans comes in in three weeks and i am stressed. i would ask my mum for help but she is widowed with two of my siblings; i dont want to put pressure on her. i have been looking for a job fforever and im not still finding anything. i reallly need help.
(edited 7 months ago)
Please don’t use payday loans. Are you in student halls or private accommodation. If in halls speak to the accommodation team , you are not the first nor the last to find yourself in this position.
Also, speak to Student services at the union - they will have a team who deal with finance issues and can sit down with you and see what help may be available. Also try your local citizens advice - please please please speak to people before going down a payday loan route.
Pretty sure you need to have a job/pay for a payday loan. But as above, they are an incredibly expensive way to borrow.

We're barely into first term, how have you got this skint so fast?
Reply 3
Original post by uneecorn
what's the best payday loan ? i am well into my student overdraft. dont have money for rent. student loans comes in in three weeks and i am stressed. i would ask my mum for help but she is widowed with two of my siblings; i dont want to put pressure on her. i have been looking for a job fforever and im not still finding anything. i reallly need help.


On top of what @thirdtimebuyer suggests, I recommend that you check to see if your university has a hardship fund you can apply to.

If you're in university-provided accommodation, talk to them to see if you can agree to pay the rent late -- I suggest that you pay what you can afford by the deadline and then pay the rest as soon as possible once your student loan funds come in. You may be able to do the same with a private landlord. A payment of something by the deadline at least shows a degree of good faith.

While I appreciate that your mum is widowed and you have two (presumably younger) siblings, I don't think it's unreasonable to ask if she could lend you something to tide you over -- but you do need to pay her back as soon as you can.

Having found yourself in this situation, you really do need to sit down and work out a proper budget going forward. You need to look hard at what you're spending and see if you can economise. That will mean identifying and cutting back on unnecessary expenditure. For example, can you find a better deal on your mobile phone contract; make a packed lunch instead of buying it on campus; take a flask of coffee with you rather than buying coffee while you're out, etc.

I would suggest that you steer well clear of payday loans or similar products.

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