Short Term Loans for Students

Short term loans for students are specifically designed to help students who suddenly find themselves needing some extra cash. Serving as a useful, short-term financial fix, these types of short term loans have been created to cover essentials or emergency repairs, such as to a house or car. While students were once seen as being unsuitable loan applicants, many lenders are now changing their opinion.

Short Term Loans for Students UK

Short term loans for students are typically similar to other types of short term loans in regards to the amount of money you can borrow and how long you have to pay it back. In general, most short term student loans are for sums from £100 to £1,500 and are to be paid back usually in twelve months. Because such loans are short-term, they often feature high APRs. As such, students should only seek short term loans when they have no other option, and they are sure they can make the repayment in the required time.

Best Short Term Loans for Students

Being a student and finding the funds to live your daily lives can be hard. However, before anything else, your university or institution should be your first resource for external help. Students can vary in ages from 18 years old to mature students of 50+. So when it comes to getting approved for a loan, we take everything into consideration as responsible lenders. So, finding the best short term loans for students can be tricky.

Short Term Loans for Students with Bad Credit

If you are a student and have bad credit, the best thing to do would be to try and improve your credit score before applying for any type of loan. At BingoLoans, we have some basic qualifying criteria that we check before approving your application, including the following:

– Be over 18 at the time of submitting your application
– Must be a UK resident
– Have an active email address
– Enter a valid mobile phone number
– Be employed or have a regular source of income
– Must have an active bank account

Remember to include your real mobile phone number and an active email address. The payday loan lender will not call your phone, as all your details will be verified online, but you do need to have a valid number as part of your application.

Instant Short Term Loans for Students

If you meet our eligibility requirements and are approved for a loan, you could receive your funds in under 2 hours at most times. However, that depends on how fast your bank can deposit it into your account. Some take as long as the next working day. But those are rare occasions.

Short Term Loans for Students with Bad Credit UK

Getting a short term loan will affect your credit score. Taking out a loan and repaying it in time will not affect your credit rating. It will improve it as it highlights your ability to repay a loan. However, if you miss a repayment or fail to repay the loan, then, your credit rating will be negatively affected.

When the cost of further education strains your budget or unforeseen expenses create a need for outside help; government student finance and student payday loans may provide the financial relief required to stay current with university expenses. However, if you are struggling with your debts and require assistance, you can speak to the Money Advice Service, free of charge.

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