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What Is The Best Bank To Get A Private Student Loan Through?

Student loan payments - when do they get put into your bank?

  • This might seem like a silly question. My student loan is due on the 20th April, and it says that there is a 3 - 5 day clearing period. For my last student loan, it was in my bank a couple of days before. I was wondering if anyone knows if the loan is usually put in on the 20th, or a few days before? Was I just lucky before? Just trying to budget a bit, would be nice to know if I should expect it on Friday 17th as opposed to Monday 20th :) Thanks!

  • Answer:

    Are you talking about loans from Student Finance Direct? If so.. mine are always in on the day they say they should be, this month i am waiting til 27th april. Lucky you getting it before in the past *jealous* lol i am so skint! As you're trying to budget though, I would say plan your budget as if your getting it on Monday 20th. That way, if you dont get it on Friday 17th, you wont be disappointed and have to possibly change plans like if youre hoping to go out somewhere expensive. Also that means, if it does come in early, it will be an unexpected treat! Hope that helps X

Lula Mae at Yahoo! Answers Visit the source

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From my experience (but this is 5 years ago) we had to be in college and the first day we were there, it was logged and then the loan installment went through. Not sure if its the same now though. Would also assume it varies per bank, I think the student loan bank is either HSBC or Lloyds and if your bank is the same, it goes in and clears faster then if the banks were different.

J

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