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Paying off student overdraft
Former Member
Posts: 1,876,323 The Mix Honorary Guru
It's almost 2 years since I graduated and I'm still paying off my student overdraft 
I know they reduce the interest-free amount to £500 after 2 years, thankfully I'm just below that.
Student overdrafts seem really good while you're a student but you tend to forget you have to pay it back. I'm aiming to have mine clear by Christmas, that will be a nice feeling.
I know they reduce the interest-free amount to £500 after 2 years, thankfully I'm just below that.
Student overdrafts seem really good while you're a student but you tend to forget you have to pay it back. I'm aiming to have mine clear by Christmas, that will be a nice feeling.
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She's making the very good point that banks give you these huge interest free overdrafts when you are a student, which aren't so bad, but then are still there and usually start costing as soon as you graduate.
BE WARNED it's not a present!
My overdraft was £1,500. The reason it's taking so long to pay back, I dunno. I am paying back £30 a month because I'm not earning that much money and have other outgoings.
not looking forward to paying back myn either. still £1.5k is pretty average imo.
:eek: ring the bank! mine are amaze at extending my overdraft :thumb:
I need to pay for another bus pass (going to get a weekly one instead) on Monday, as well as get another counterpart driving license and send off for my passport. Mum is supposed to be paying for the latter, but in any case this is going to be fun.
I'm earning £60 a week atm, and it just does not seem to be making a dint in the overdraft at all. Off job hunting
Plan is, every time I reduce the overdraft by £100, to reduce the limit by £100, but I'm not convinced it'll work. Need to do some financial stuff tomorrow. :yeees:
I went to them, cunts said they weren't giving me money to fund my social life...which was true at the end of the day.
Wish I hadn't of been so reckless with my spending at uni now
my partners old student was 500, never really in it, then 250, now 200 and still plus.
I dont get how people get into so much debt...
did you go to university for 3 or more years? sometimes it's difficult to work if you have a tough course, or to work enough to earn enough money, so you need an overdraft and you need to use it.
Planning to be at or above zero this time next year. :thumb:
Not having an overdraft was dead easy before uni.
I knew a girl at uni though who spent her entire first term student loan in the first two or three weeks! She would go out two or three times a week and spend £50 a night. I'd go out every two or three weeks (except freshers week) and spend £30 incl. taxi fare / food on a big night.