Hey there! Sign in to join this conversationNew here? Join for free

I'm putting my maintenence loan in my current account - bad? watch

    • Thread Starter
    Offline

    0
    ReputationRep:
    I'm putting my maintenence loan in my standard current account, it's a standard Lloyds TSB one.
    Should I put it in a different account like a Natwest student account since there are more benefits?
    Offline

    9
    ReputationRep:
    Your tuition fee loan is paid straight to your university, not to you
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by stargirl001)
    Your tuition fee loan is paid straight to your university, not to you
    WHOA! Then why do they want to know my bank sort code and bank account number when I apply??!!
    Offline

    14
    ReputationRep:
    (Original post by Gr8)
    WHOA! Then why do they want to know my bank sort code and bank account number when I apply??!!
    For the maintenance fee and the stuff that your meant to receive?
    Offline

    9
    ReputationRep:
    (Original post by Gr8)
    WHOA! Then why do they want to know my bank sort code and bank account number when I apply??!!
    Because your maintenance loan is paid directly to you. Its just the tuition fee loan that goes to your university.

    In answer to your original question: if you want the perks of a student account e.g. an interest free overdraft, a railcard (if you're with natwest) then by all means, get a student account. You can change the account details that you've given to Student Finance once you've set up a new account
    Offline

    2
    ReputationRep:
    Probably bad. Your tuition fees go straight to the Uni, but I'd open an online "savings" account with the same bank as your current and put all your maintenance loan in there, then you can do online transfer as you need it for rent etc without having to worry about blowing it all by accident. Its what I did and its worked really well for me
 
 
 
Poll
Do you agree with the PM's proposal to cut tuition fees for some courses?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.