Can instant cash loans help you?

Getting through university without debt is pretty much impossible nowadays unless you have some wealthy and helpful parents or received an awesome scholarship. Even the best scholarships have less impact on paying the bills than they used to a few years ago.

So with the likelihood of debt, for which student loans will cover the most part, what can you do between student loan payments if you need money now to pay bills, and it isn’t due to come until later?

Well there are companies offering instant cash loans. Of course these can really help people out of a bind but I would definitely advise that you read all the small print as with every financial offering. The obvious benefit is that they can provide cash in your bank within a matter of hours. There is a simple process to apply and you usually receive a very quick decision. This can be a very valuable service (contingency plan) for students who are a few weeks away from a student loan or grant payment and have to pay the rent at the end of the week.

While the loans often carry a high APR, they are usually available for smaller amounts (from a few hundred to a thousand) and can carry a loan term of a couple of days to a month.

One such website offering these are www.cashloans.co.uk. So while I would definitely advise all students to make a budget (‘cutting your tablecloth to fit your table’ as my mum would call it), there is an almost certainty that even with the best budget, you are likely to go over every now and then. So keep these smaller, short term loans in mind and weigh up your best options (short term loans, credit cards, overdrafts, ask parents/friends etc.) when in financial need.

Another tip is job hunt early. The time after graduation and before full time work can also put a significant financial burden on you. Finding work quickly is another big key in reducing the overall impact of your education on your debt limit.

Tags: banks, Loans, student finance

Category: Student News