Loans for the students

Student’s life – it’s not the easiest time in man’s life. In theory, it should be all about getting your education but life being as it is, many times it’s anything but. And although many people would say that is all about partying all night, unfortunately, that is not the case as well. What many students are most thinking about is… money. Or to be more exact: the lack of money. First of all, there’s the tuition to pay and don’t even get me started on costs of accommodation and… life itself when you don’t have a permanent and well-paid job.

And then sometimes life gives you an unexpected twist, and there’s an emergency. Whether it’s a broken laptop or a toothache, the answer to your prayers is one: you need money. You need money to buy yourself a new computer, and you need money to go to the dentist and fix your teeth. Other options are just out of the question.

Easy to say and harder to get? Not necessarily. There are options for those who need a – sometimes even significant – amount of money right here and now. One of them is getting a fast and cheap loan.

Can a student take a cheap loan?

Yes. The student can get a cheap loan but on some conditions. First of all, it’s better when you are over 20, or sometimes even 21. But if you don’t meet this criterion, it’s not over yet. You just have to look a bit harder for the providers who offer loans for those over 18.

Another problem may arise if you have already taken a loan in the past and for some reason failed to pay it back on time. But even then getting a new loan is not the lost cause. Some providers do not run a credit check, and others may give you a loan even if they’ve found out that you had problems with repayment of your previous ones.

What do you need to get a loan?

In most cases what you need is simply your ID and maybe a social security number. Nowadays you can take a loan online, simply by filling out the application form. In the form you may also be asked about:

The most difficult for you might be questions about workplace or your monthly income. If you don’t have a permanent job and it’s hard for you to prove your monthly earnings you can still get your loan! You simply have to state your workplace in the form and estimate your earnings. It is not necessary to present any certificates or something. BUT if you have permanent problems with a cash flow, do read the next paragraph, because getting a loan may not be your biggest issue here.

When NOT take the loan

Becoming a student is a threshold to being an adult. You get to be treated as one, so it is you who will be responsible for the aftermath of your decision whether to take a cheap loan or not.

So you have to carefully analyze your financial situation and make sure that your loan will be repayable in full at the end of the loan period.

You should check as well, whether you indeed have to borrow the amount you want. The more you borrow, the more you have to pay for it. So when you can get by with a smaller sum – do it.

Best offers for students

You should not be worried about the cost of the loan. Many providers offer very good deals for their first clients, so the costs are minimal or even nonexistent provided you borrow a reasonable amount of money for rather a short period and manage to pay it back on a schedule. If you need more money than the provider offers in his first free loan, you can also take another loan, from a different provider who offers a similar deal.

Remember to pay attention to the details. When the provider tells you that the loan is 0% interest rate, it does not necessarily mean that you will have to pay back the exact amount you have borrowed. Look for the information about the representative APR of each loan to estimate its cost.

Before you take a loan

If you estimated your monthly income, analyzed all the risk factors and came up with a decision to get a loan, well, good for you! Now you can choose your provider. What you should do is read about all the providers on the Internet. Of course, the customer opinions read on Facebook group or elsewhere are not totally reliable. The comment that you read may be a part of marketing campaign paid by your provider (when the comment is positive) or his competition (when the comment is negative).

What we recommend you to do is to go to our best loans list and read all the data about the offers and loan companies we have gathered there. We try to do our best to make this list a reliable and systematically updated source of information to make your task of choosing a loan company an easier one.

After choosing a loan company and deciding which offer to take, remember to read the contract thoroughly and double check all the terms and conditions. Make sure that – if that was the promise – your loan is really cost-free!
When you’ll read the contract carefully and weigh your options reasonably you can feel safe and secure taking a fast online loan.