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  • Saturday, August, 2020| Today's Market | Current Time: 06:59:54
  • You have worked hard to join your favorite university? Congratulations. At least, you are kick-starting your journey to success. It means that you are taking a course that will help you secure a future for yourself. But wait. Did you know that university life is full of challenges? From lacking school fees to being broke—university life can be challenging and expensive. And that’s where university student payday loans come in. With university payday loans, you have an opportunity to sort out those pressing financial needs in the quickest way possible. Plus, these loans don’t come with a lot of tough terms. So, if you are looking to get a loan for your university stay, keep reading. The information below contains all you need to know regarding payday university student loans—including how to secure the best loan.

    Student Payday Loan

    A student payday loan is a short-term loan that is available to college and university students. These loans, unlike normal loans, are pretty small and attract fewer interest rates. Apply yours here http://www.paydaypixie.co.uk/back-to-university-student-payday-loans/

    Dangers of Student Payday Loans

    Of course, payday loans can help you fix pressing issues in the shortest time possible. However, these loans do come with the following dangers.

    Interest Rates

    Student payday loans, like any other credit facilities, attract interest rates. These rates can be a nightmare—especially when they accumulate. Certain lenders may charge an APRs of as high as 1,000 percent. So, when taking student loans, understand the APR (an abbreviation for Annual Percentage Rate).

    These rates can double up in a matter of months. So, the best way to avoid pilling up these rates is by paying your loan in time and the right amount.

    Missing Repayments

    Missing repayments will hit you hard. It can cost you dearly. The charges which come with missed repayments can be exorbitant and make you regret. So, the best way to avoid these charges is through repaying your loans in time. Alternatively, you can speak with your lender and discuss with him/her concerning your financial situation. Otherwise, you risk pilling charges that can damage your credit report and credit score by extension.

    The Alternatives

    Here are top alternatives to student payday loans.

    • Overdraft—Take advantage of student overdraft. They can be a good source of money for your student upkeep in college. 
    • Zero Percent credit card—consider getting a zero percent credit card.
    • Credit Union—consider joining a credit union
    • Family—ask money from friends and parents
    • Consider seeking professional advice

    The Bottom-Line

    University life doesn’t have to be hard. This is the time you need to be comfortable and learn things that will shape your future. So, don’t let lack of money pin you down or overwhelm you. Secure a back to university student payday loan and lead a comfortable life on campus. The above guide contains things to look for in a student loan.