Getting A Student Hardship Loan
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Peter Kenny
Apr 22, 2013, 5:00:03 AM4/22/13
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Peter Kenny
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Article Title: Getting A Student Hardship Loan
Author: Peter Kenny
Word Count: 551
Article URL: http://www.isnare.com/?aid=144885&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=144885
Easy Publish Tool: http://www.isnare.com/html.php?aid=144885
*********************** ARTICLE START ***********************
Student loans are sometimes not enough to sustain you during university, especially during the tougher times. Even if you have a part-time job as well, there are times when some students need more than they have at the moment. If you are one of these students, then you should look at applying for a student hardship loan. If you want to know more, here are some tips about how to get a student hardship loan.
What is a hardship loan?
A student hardship loan is a loan to help students who are in real financial difficulty due to unforeseen circumstances. These loans were introduced in 1998, and you are eligible if you have applied for the maximum student loan available to you. You can apply to borrow between �100 and �500, which of course you need to pay back. You can only make one application for a hardship loan in an academic year, and it must be one month before the end of that year. You can apply for the loan through the student services department at your university.
Who is eligible?
Eligibility depends on how bad your financial situation is. Usually hardship loans are only given to those who have exhausted other means of finance, and without the loan they will be unable to carry on. You will need to show that there is no other option open to you, and that you are really in need of the loan. Your university or college make the decision on whether or not you can have the loan. If you are successful you can use the loan for books, travel or general living costs.
Repayment terms
Repayment of a hardship loan is the same as the way you repay your student loan. The Student Loans Company will pay the sum directly into your bank account, and you will repay the amount along with your student loan.
Hardship funds
There is an alternative to hardship loans, in the form of a hardship fund. These hardship funds are also for students who are in real financial trouble, but they are usually given as grants and therefore do not need to be paid back. Eligibility depends on both your financial circumstances as well as if your course qualifies or not for a hardship fund. If it does, you can apply for between �500 and �3500, which can be given as a lump sum or as instalments over time. Hardship funds are usually harder to get hold of, and are reserved only for the most needy students.
Alternatives
If you are refused a hardship loan or fund, then you might want to look at banking alternatives to get yourself out of trouble. If you can work more without letting your studies suffer, then this might be one answer. You could also get a credit card to help you in the short-term, or ask your bank for an overdraft extension. If none of these things work, then you might have to borrow off friends or family and save as much as you can until the situation gets better. However, if you are in genuine need of money, you are likely to be accepted for a hardship loan or fund by your university.
About The Author: Peter Kenny is a writer for creditcards-gb Please visit us at http://www.thriftyscot.co.uk/student-finance-guide/ and http://www.loansubmit.co.uk/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=144885
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Peter Kenny
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=144885
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=144885
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Getting A Student Hardship Loan
Author: Peter Kenny
Word Count: 551
Article URL: http://www.isnare.com/?aid=144885&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=144885
Easy Publish Tool: http://www.isnare.com/html.php?aid=144885
*********************** ARTICLE START ***********************
Student loans are sometimes not enough to sustain you during university, especially during the tougher times. Even if you have a part-time job as well, there are times when some students need more than they have at the moment. If you are one of these students, then you should look at applying for a student hardship loan. If you want to know more, here are some tips about how to get a student hardship loan.
What is a hardship loan?
A student hardship loan is a loan to help students who are in real financial difficulty due to unforeseen circumstances. These loans were introduced in 1998, and you are eligible if you have applied for the maximum student loan available to you. You can apply to borrow between �100 and �500, which of course you need to pay back. You can only make one application for a hardship loan in an academic year, and it must be one month before the end of that year. You can apply for the loan through the student services department at your university.
Who is eligible?
Eligibility depends on how bad your financial situation is. Usually hardship loans are only given to those who have exhausted other means of finance, and without the loan they will be unable to carry on. You will need to show that there is no other option open to you, and that you are really in need of the loan. Your university or college make the decision on whether or not you can have the loan. If you are successful you can use the loan for books, travel or general living costs.
Repayment terms
Repayment of a hardship loan is the same as the way you repay your student loan. The Student Loans Company will pay the sum directly into your bank account, and you will repay the amount along with your student loan.
Hardship funds
There is an alternative to hardship loans, in the form of a hardship fund. These hardship funds are also for students who are in real financial trouble, but they are usually given as grants and therefore do not need to be paid back. Eligibility depends on both your financial circumstances as well as if your course qualifies or not for a hardship fund. If it does, you can apply for between �500 and �3500, which can be given as a lump sum or as instalments over time. Hardship funds are usually harder to get hold of, and are reserved only for the most needy students.
Alternatives
If you are refused a hardship loan or fund, then you might want to look at banking alternatives to get yourself out of trouble. If you can work more without letting your studies suffer, then this might be one answer. You could also get a credit card to help you in the short-term, or ask your bank for an overdraft extension. If none of these things work, then you might have to borrow off friends or family and save as much as you can until the situation gets better. However, if you are in genuine need of money, you are likely to be accepted for a hardship loan or fund by your university.
About The Author: Peter Kenny is a writer for creditcards-gb Please visit us at http://www.thriftyscot.co.uk/student-finance-guide/ and http://www.loansubmit.co.uk/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=144885
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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