Making your loan go a long way (Student Loans Co.)

Member Name: onkar

Product:	Student Loans Co.
Date:	16/06/01 (50 review reads)
Rating:

Advantages: Low interest rate, Everyone can take out loan

Disadvantages: Have to pay back

I have just graduated from Uni, and I know the finance at uni can be very expensive, but all is not lost. You can make the most out of your loan, here is how:

If you are staying at home, than you do not need that much money. Hence put your loan into a high interest savings account. Also take out an interest free overdraft, and put that into a high interest saving accounts. The banks do not like this, however they have no choice, because after you graduate, you will be making money, which obviously the bank would like to store for you. After you graduate, you still have that overdraft for 3 years, make the most of it. If you are good with using the Internet, than you can open couple of credit cards accounts, and transfer the money to a high interest account, 50 days later, transfer it back as credit cards offer an interst free period (46 -56 days). Some companies offer 0% APR for 6 months, but that is if u can get credit, which is unlikely as a student.
As a student, you are a valuable asset to research. The times paid me £40 as a final year student, who is actively looking for jobs, to fill in 4 quiestionaires, over a period of several months. Also bewteen lectures you can write couple of reviews, like this, or paid to surf, and hence make money.
Hence over three years, you should have made some money for free.

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