Student payday loans can help when you need it the most. Given students are generally reliant on student loans that only payout in lump sums few and far between, it leaves plenty of potential for unexpected costs to catch up on you. Luckily there’s other credit lines available, one being in the form of a student payday loan and there are other loans for students that might be worth looking at too.
Can I get student payday loans with no credit checks?
Unfortunately there are absolutely no loans available in the UK without a credit check. No credit check loans* only exist in myth and its mainly clever advertising and marketing that would leave you to believe this. Because we are brokers we do not carry out a credit check, but that is because we are not the lender. We will put your application in front of dozens of willing lenders from the Financial Conduct Authority Register (FCA) who will consider your application carefully. They will carry out a credit check on your student payday loan. At some point, if you borrow money, you will need to be credit checked. There is no such thing as a guaranteed payday loans though many of the lenders do have high acceptance payday loans.
Do payday loans for bad credit students exist?
Don’t let this put you off making an an application though. Our panel of lenders fully understand bad credit history and how students might find themselves a little hard up nearing their standard student loan funds release. They will look at your situation carefully and based on the application you send them, workout if a loan is viable. Bad credit payday loans can be approved if the lender believes you can make repayment comfortably without financial difficulty and that your poor credit has turned a corner.
Where can I get a quick or instant payday loan for students?
One of the best places to find quick payday loans is online. The reason being, some lenders are now using automated decision making software that is making an instant payday loan decision. While this doesn’t mean that the payday loan itself is instant because you need to review the offer and accept or reject. It does mean that the process is very quick. You can normally get a payday loan within 30 minutes if a lender approves your application and you are quick to accept it. Normally it takes fifteen minutes from you accepting the offer to the funds being released. How quickly you get the funds largely relies on your bank accepting faster payments.
Are you struggling to repay your payday loans?
Please know that if you find yourself in difficulty and you cannot repay your student loans then there are charities and organisations setup to help and advise you, so don’t despair. Both the nationaldebtline.org and stepchange.org can help:
https://www.stepchange.org/debt-info/dealing-with-payday-loan-debt.aspx
https://www.nationaldebtline.org/EW/information/debt-types/Pages/Payday-loans.aspx
They have handled thousands of payday loan debt queries between them and are almost certainly going to be in a position to help you.
We’ve included a comparison chart so you can see the interest rates available. It’s always recommended that you clear these student payday loans as quickly as you can so that you can minimise the amount of interest that you pay. Please note these comparisons are in no way a reflection of a loan offer you might receive, they are just examples to give an idea and help you find the best payday loans.
Compare student payday loans |
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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 | 20% | £143.16 | £47.72 | Bad credit can apply |
£200 loan |
6 months | 20% | £363.84 | £60.64 | Bad credit can apply |
£500 loan |
5 months | 24% | £910.62 | £182.12 | Bad credit can apply |
£1000 loan |
6 months | 18% | £1715.46 | £285.91 | Bad credit can apply |
All figures are for illustration purposes only and as you can see the faster you repay a loan the lower the interest so it’s always worth looking at your finances carefully to see what the most you can afford a month is. It will then cost you a lot less overall.