As the university term comes to an end, all the students struggling to make ends meet on their student loans are faced with a brand new expense: the party season is just around the corner, and whether you plan to celebrate Hanukkah, Christmas, or just a booze filled and exuberant New Year, many people are digging around for a little extra cash. It isn’t just these students who could do with a little cash advance to help them out till 2012: many of these students’ parents, as well, would like to be able to show them a good time over the seasonal holidays. That’s why many people in British families this year will be taking out unsecured loans for large and small amounts, in order to have a merrier Christmas.
Often, an unsecured loan is used to meet other debt payments such as outstanding credit card bills, rent payments, mortgage payments or bills. People like to use unsecured loans for these purposes because they offer fast cash payments (often made available within a week or a few days of application), and are easy to access. Often, these loans can be accessed by people who find it problematic otherwise to get a loan: i.e., people with very bad credit scores, those who have gone bankrupt, etc. But during Christmas time, many people who would be able to obtain credit cards or bank overdrafts choose instead to take out these types of loans, simply because when the sales are coming up, it can make all the difference to get one’s hands on cash fast!
That’s why people who can meet all their needs – for most of the year – with just their student loans, student grants or bursaries find themselves, at Christmas, needing to borrow funds in order to buy their families, friends and partner great Christmas gifts, or to travel to see their loved ones. Students are great candidates for a cash advance through unsecured loans, because the lender know that the students will be given the money to pay the debts back very soon, in their loan instalments due in January. Nothing can prevent an enrolled student receiving the student loan instalment – unlike other unpredictable sources of income, such as wages from a job the customer may be fired from, or repayments which others may fail to make. So don’t be surprised if you see the students you know with unexpected amounts of cash; there are more ways than one to make a student loan pay for itself!
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