Do you have to go to uni to have a student loan?

Natwest Student Loan?

• Okay, so I am starting uni in september, and ive sent off my student finance stuff for Student Finance England. But the money they will give me is not enough to last the entire year, so I am going to also go to Natwest to get a loan from them! But when I look on the Natwest website, they only seem to talk about Overdrafts, and not an actual loan, so my question is.. Do Natwest actually give you a loan with an overdraft? If so, how much do they give you in the loan, I know they give overdraft's of up to £1000 for first year students, but how much will they give in the actual loan? I find it all very confusing, thanks!

• Answer:

  Why would you even be considering this, it's a really bad idea. If you don't have enough money to live on then how will you be able to afford the monthly repayments for a loan? You would end up just using the loan to pay itself off! I had a loan from Natwest a while back for £2000 and I pay £60 a month. So when you're using it for living expenses 2grand doesn't go very far, but £60 a month makes a huge dent. And you will end up paying back far more than you borrow with all the interest, so if you can't afford to live off your loan, how can you afford to throw more money away? It's a waste of time anyway as there is no way they will let you have a loan - you have to be in steady employment and can prove that you earn enough for the repayments. They don't use student loan as income, and even if they did it wouldn't be enough. They let you have a student overdraft which is interest-free, and s student credit card for emergencies, and then of course there's getting a JOB! Don't go for a loan.