Student credit

You'll find all kind of credit on offer to students, including loans, overdrafts and credit cards. Before you get in over your head, be aware of the pitfalls and advantages of each option.

Overdrafts

Many high street banks will allow an interest-free overdraft of several hundred pounds. They are especially sympathetic towards students who anticipate trouble before it starts, so ask for help early.

Credit cards

These should be considered as the last resort. This is because missing repayments can mean spiralling interest charges. As a general rule of thumb, if you're left with no choice but to use a credit card to pay for basics like weekly groceries, you should go straight to your student advice centre and ask for financial advice and/or additional financial support.

Loans

The best loans are from your parents - they don't usually charge interest, and may even conveniently forget you owe them anything! Loans from the Student Loans Company are the next best thing.