If you’re thinking about short term loans for students because unexpectedly you need some extra cash, the option is there to borrow. This type of loan is in place to cover short term financial issues and generally borrowing is from three to six months. There are some basic criteria that you’ll need to meet in order to secure a loan and much depends on current financial status but the option for a quick student loan is in place.
Typically students borrow anywhere up to £1000 from short-term loans. This amount normally covers all the unexpected costs that can arise from being in education. If you find yourself short then simply pop us an application and from there will will match you to our panel of brokers who will be able to come back to you quickly with a decision on a loan. Most quick loans are organised same day if the financial
Yes, you can get short term loans with bad credit for students. These typically carry higher interest rates as a result. If you’re unsure about interest rates and costs please take a look at the comparison table below. While this is not an offer and cannot be strictly relied upon, it’s useful for illustration purposes:
Without applying and finding all the different offers that you’ll receive it’s difficult to answer the best payday loans question. Many lenders see applications slightly differently and so the offers you get will range accordingly. This means taking a close look at the offer and ensuring you are happy with the terms. If for whatever reason you do not like them, simply reject the offer and that will be the end of the application. If you approve the terms then your money will be with you quickly after this.
The easiest way to apply for a short term loan for students is pop us an application and we will quickly pass this over to our panel of lenders who will equally quickly react to your details. If you have good credit then an offer can be organised promptly in some cases. If your credit isn’t the best then fast decisions aren’t quite so prevalent. The lenders will need to carefully check your ability to borrow money before making an offer.
If you take a look at the student payday loans page you’ll instantly realise that this type of loan carries considerable interest rates. The best way to handle this type of loan is reduce the repayment period to an absolute minimum and pickup the least number of months interest that you can comfortably manage financially.
This is a double edged sword. If you are rejected for any credit it can have a negative impact on your credit rating. Our lenders generally carry out a soft search that leaves no trace on your credit first in order to ensure there’s no unnecessary damaging of your credit in the event your finances are not suitable for a loan. Once you get a loan, if you pay off on time, you won’t hurt your credit ratings.
Comparing loans without a guarantor |
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|---|---|---|---|---|---|
Borrow money – how much? |
Short term loan -length? |
Monthly APR example Representative 1266% |
Loan total |
Monthly repayment |
Is this a bad credit loan? |
£100 loan |
3 months | 24% | £151.42 | £50.47 | Yes |
£200 loan |
3 months | 24% | £302.83 | £100.94 | Yes |
£500 loan |
6 months | 24% | £993.22 | £165.54 | Yes |
£1000 loan |
6 months | 24% | £1986.44 | £331.07 | Yes |
The easiest point to take from this comparison chart is the difference interest by reducing the loan period. It considerably saves money.
The first place to go is the student loans company run by the government. It is a lower interest rate option to short term payday loans and will be far more favourable terms. If for whatever reason this isn’t an option then you can always apply with us and we will put your details in front of a large panel of lenders for you.
