At the beginning of every academic year we see the same old dangers of major banks throwing credit facilities at new students. It has been going on for years and every year we issue a warning about these pratices.
Students will find that bank are falling over themselves to give credit without doing proper checks. We have met some students who do not have an income but were offered over £5000 in credit facilities just because of the course that they were doing.
A high proportion of students that get into financial trouble do so because of the credit that gets offered to them by banks in their first year. Most of the people that come tto our site do so because they are in financial difficulties that relate back to bank overdrafts that need to be repaid.
We continue to urge students not to repeat the mistakes made by previous students in accepting credit facilities offered to them by banks. Students are right in that it is easy money, but it doesn't last long and the affects or it will last long after a student has left education.