subject: Bad Credit Student Loans- Have Tension-free Education! [print this page] In UK financial market, you will come across to various types of loans available with reasonable interest rates. If you are student and your education is obstructed by shortage of finances then you can apply student loans. For you bad credit student loans are introduced so that you can easily enjoy successful option of education with hefty finances.
There are various advantages that related to these bad credit student loans including no credit verification, no paperwork or collateral for availing these loans. Even if your parents have credit scores such as CCJs, IVA, defaults or arrears etc, they can apply these loans without making any hurdle.
The amounts of loan that can be obtained through these loans depend upon your financial requirements and education status. If you are undergraduate student, then the lenders are granted maximum funds up to 5,500 a year. For independent students, they can obtain more amount of fund than undergraduate students per year.
Usually, these loans are granted to students, who want to undergo further professional studies such as medicine, management and law etc. Normally, these loans carry higher interest rates as compared with other types of loans available in UK.
If you are supposed to apply these bad credit student loans, you need to fulfill some basic requirements:
-You must be a student and citizen of UK.
-You must attain above 18 years of age.
-Your guardian should be employed in UK.
-You should hold a valid checking account.
For getting these loans, it is also not necessary for you to pledge any collateral against these loans. Once you get the fund, you are free to utilize money in many purposes such as paying annual fees, buying books and other utilities etc.
In terms of application, there is no need of paperwork or lengthy formality since you have to undergo the application through online mode. This makes easier option to get the loan within few hours. The amount of fund will be also electronically credited into your bank account within 24 hours.
