Applying for a loan as a student

Usually, we are unable to offer you a loan if you are a full-time student and do not have a substantial additional source of income (such as employment or welfare benefits).

Why We Cannot Offer Loans to Most Students

The reason for this is that we are only able to take into account your current income when making a loan decision. So even if your future employment and earning prospects are good, we can't take it into consideration, as they are not guaranteed.

In the same way, unfortunately, we aren't able to consider your student loan as income in the same way that we can income from employment or from welfare benefits. This is because student loan income is conditional on you continuing your studies, which is, of course, outside of our control.

We Still Value Student Members

We know that many students in London share our values and care about our way of doing business, so we are sorry to be unable to help. We would still encourage you to join us and to save with us if you can.

Future Developments

We are always looking to innovate new products and ways of supporting our members, so responsible lending products appropriate for students may be something we look to develop in future.