ex student

[leannabell]

having dropped of my coures thismonth, i was wondering if the bank will charge me interest on my student overdraft, which is maxed..??

[morg_monster]

they might do. go to your local branch and ask to have a chat with someone about it. If you are honest and tell them what is happening they will probably be sympathetic and come up with an arrangement so you don't have to pay too much interest. You'll have to show them that you have a job or some way of starting to pay off the overdraft. They certainly won't be happy with you keeping it at its maximum - they will need to see evidence that you're trying to get it down. If they see this then I'm sure that between you can sort it - eg get it down to �1000 by this date, and then �500 by this date, etcetera.

On my student account the interest free amount drops by �500 or �250 each year after I finish uni. I don't see why they won't make the same allowance for you.

(If they won't - there are some accounts with cheaper overdrafts available. My bank account charges about 14% if I go out of my interest free part, but other accounts have more like 6 or 7%. You may need to pay in a minimum amount each month to get this, though).

[CheekyChops]

Unless you actually tell them, the Bank won't know that you have dropped out of your course so will assume yiu are still a student.

[stellaqueen]

like alreayd said if you dont tell them they dont know. i'd get yourself sorted - bit of money together and then tell them when you have little or no o/d. i finished uni last june. i have an overdraft which im currently working down but they give me 3 years to pay iot back - each year th eoverdraft limit reduces - to help you pay it back so you dont leave it till the last min. so even if you do tell them they may well give you so long to pay it back.

[coffers1]

In my experience banks are not really that bothered if you dont start reducing your overdraft. As long as the account does not become inactive they are quite happy to keep charging you the referral fees and overdraft fees.