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Graduate with no income, can he get an overdraft?

(11 Posts)
mamas12 Mon 20-Nov-17 23:56:47

Just that really
We had done some research but going round and round now and can't seem to find out the answer to this question
He did have 3k saved working in a cafe but that all went on rent and bills after that job ended and couldn't find another job, still searching.
Nothing in the bank but the student loan overdraft can he
1 switch banks to get money offer and a 0% interest on a normal overdraft
2. Go to his existing bank and have a hat
Or no hope because no income?

Ginfiend Mon 20-Nov-17 23:58:18

Does he have a student account? They normally change it over to a graduate acc within a year of graduation. Ring them and just say you want an overdraft?

Ginfiend Mon 20-Nov-17 23:59:39

Oh hang on. Has he already got a student overdraft? It’s jot clear from your post.
Can he get a job as a Christmas temp somewhere? He’s 21, and assuming NT, needs to take responsibility for his own finances

mamas12 Tue 21-Nov-17 00:10:12

He didn't actually swap it over to a graduate account at the time were just researching
He is looking for work desperately in his preferred field but is and has been willing to take anything but if you're not taken on you can't force someone to employ you, it's so frustrating
His is well aware taking financial responsibility and is gutted he can't find a job and is dependant on us atm
Would he get an overdraft ?

Migraleve Tue 21-Nov-17 00:33:30

No bank is going to give credit if the person has no means to repay.

Ginfiend Tue 21-Nov-17 03:33:34

You haven’t answered to question so I can’t help
Has he already got a student account overdraft? If not. Get him to ring up and ask for one, chances are they will just give it.
However that’s ignoring the point- he doesn’t have an income, what is he planning on doing to pay back said overdraft?
Surely he would be better off borrowing £500 from you (if you have it) than an overdraft? Boots are hiring. Tesco.

Ginfiend Tue 21-Nov-17 03:34:40

“Nothing in the bank but the student loan overdraft ”
This doesn’t make sense

mamas12 Tue 21-Nov-17 17:14:05

Sorry wasn't making sense last night
He is desperately looking for work at the moment we live rurally so hard without a car of his own, he's having driving lessons for xmas, with the lack of good transport around here.
He didn't have a student overdraft, just the usual student fees he needs to pay back when he earns.
My suspicions are correct then he can't get an overdraft with an income
I have lent him money but he's independsnt and doesn't like it but he is also going to try to sign on.

Will they give him a student overdraft even he graduated last year?

Becca19962014 Tue 21-Nov-17 17:47:31

He'll automatically have a graduate bank account now not a student one so no student overdraft.

It'll be universal credit if he's on his own so no money for about six weeks.

Migraleve Tue 21-Nov-17 18:13:41

Will they give him a student overdraft even he graduated last year?

No, because he is not a student.

Also, as previously mentioned, banks don't lend money to people with no income.

mamas12 Tue 21-Nov-17 23:30:58

Thanks for answering my queries everyone
Hopefully he'll get a job soon meanwhile hell apply for universal credit and well support him

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