Bigger overdrafts have been offered by a high street bank Lloyds TSB to those that are affected by delays to the student finance system.

Students starting university without full funding

There are hundred of students out there who are starting university this month without full funding after the Student Loans Company (SLC) struggled to cope with demand.

Regarding delays in processing applications there have been numerous complaints, out of which most are revolving around problems getting through to advisers.

Extend the interest-free overdraft to £1,000

Lloyds TSB has said that it would offer the chance for applying to extend the interest-free overdraft to £1,000 to first-year university students who already hold an account.

Under current rules, students who are currently having an account with the bank are allowed a £500 overdraft in the first six months, and in months seven to nine they would be able to extend it to £1,000 and £1,500 by the end of the year.

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