St Peter’s
RC Sixth Form
Higher Education: Overdrafts
A student overdraft can be a critical part of your income and many students do take up the full amount of student overdraft. Different banks offer different amounts of student overdrafts and with different conditions.
Overdraft limits are generally increased with each year of your study giving you a little more each year. Most student overdrafts up to the authorised limit should be interest-free until you graduate. (If not – change your bank!) This makes them a useful source of funding, but remember that whatever you borrow will have to be paid back after you graduate and then interest will be added.
Higher Education pages updated 23rdJune 2003