Lloyds TSB aims to "ease the worry" of students

www.moneynews.co.uk > Banking > Lloyds TSB aims to "ease the worry" of students

Lloyds TSB aims to "ease the worry" of students

Mon 28th Sep 2009

Lloyds TSB has claimed that it wants to try and "ease the worry" of students by allowing them to extend their overdrafts further than normal.

Catherine McGrath, director of current accounts at the organisation, made her announcement following news that there is a backlog of applications at the Student Loans Company, which could lead to delays in payment.

She pointed out that the situation must be causing concern to those students affected and she highlighted that the extra money will stop them from struggling financially.

Ms McGrath added: "We hope that by providing the opportunity to extend their overdraft, we will help to ease the worry of those who need funding the most."

Lloyds TSB will allow students starting this term to extend their overdraft to £1,000 straight away, rather than its normal tiered method whereby it starts at £500 for the first six months before potentially rising to £1,500 by the end of the first academic year.

Last week, HSBC reminded students that it is still offering £120,000 in funding for four lucky people to use through their university courses.

The closing date for applications for this bursary is October 9th.

Click here for more banking news

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : LloydsTSB
	Lloyds TSB increases interest rates for its Young Saver account
	'New' universities contribute to higher mortgage rates
	Property prices rise across London and UK, studies show
	Lloyds' decision to leave PPI row supported by uSwitch
	Lloyds TSB fixed rate mortgage 'offers choice'
	Savings accounts provider Lloyds TSB launches social media scheme
	Savings account provider Lloyds TSB highlights Scottish recovery
	Lloyds buy to let mortgage announcement 'is restrictive'
	Savings accounts provider Lloyds TSB supports increased use of fivers
	Lloyds TSB savings accounts 'not impressing consumers'