Short-term loan

The Students' Union offers a short-term loan to students to help them when there’s been an unexpected shortfall

A helping hand

The Students' Union offers a short-term loan to help students who have run into unexpected shortfalls in their budget. Loans can be organised in a few days and can be up to £100. These can help you keep going until your next loan installment or wage packet, and repayment can be organised dependent on your circumstances.

The loans do not charge interest, and are funded through a University grant designed to help students struggling at University.

 

How does the process work?

  • Log into the website to request a meeting, including dates you can meet with staff either at the Students' Uniion Hub at Mile End or the BLSA building at Whitechapel
  • Meet with staff and agree the details of the loan and a realistic and achievable repayment schedule
  • The loan is issued to you, generally in cash that you sign for from the Students’ Union, generally on the Monday after the meeting
  • Repay the loan, on the dates agreed, and in full
 

Why do we offer a loan?

The loan was introduced because our students decided to ban payday loan companies from operating on campus. The Students' Union and University has a responsibility to safeguard students on campus from being exploited by unethical, dangerous methods of securing short-term financial liquidity when difficulties arise. We have introduced a loan so that students who are struggling can come to a responsible lender, and if necessary access services beyond the loan to help with longer-term financial insecurity.

 

What next?

Complete this short form to get an appointment with a staff member at the Students' Union to discuss a short-term loan.

 

Contact:

Sophia MacBlain
Representation and Democracy Manager
s.macblain@qmul.ac.uk
020 7882 8455