What is a mature student loan?

Our short-term loans for mature students can help provide that little bit of financial support you need to focus on what’s really important.

If you’ve decided to take up studies later in life, you may well have plenty to think about at home outside of your degree – that’s why our student loans for mature students are made differently.

We offer short-term loans of up to £350 that are paid directly into your bank account, in most cases on the same day you apply.

We might be quick to pay out, but we won’t rush you to repay. You’ve got enough on your plate, so we’re happy to hang on until your next student finance instalment comes through – or any other date that works best for you, providing its before your next student loan payment.

And we don’t want to contribute to you getting into more financial issues. That’s why we cap interest at 50% of your borrowing and won’t charge any extra fees. When you apply, you’ll know the exact terms so you can crack on with your new life.

How our student loans for mature students work

Applying for a mature student loan with us is seriously simple. Just check your eligibility first.

  • You study at a UK college or university and receive government finance in the form of a Student Loan, NHS Bursary or SAAS Award.
  • You are at least 18 years of age
  • You are a resident of the UK
  • You have a valid UK bank account and debit card
  • You aren’t in an insolvency arrangement such as bankruptcy or an IVA

Follow these three simple steps to apply for a bank loan for mature students.

1. Submit an application form

    Visit the student loans calculator and enter how much you need and for how long. That could be the date of your next finance instalment, the first day of next term, or another date that suits you. If you know you can repay early, you might be able to save on the interest paid.

    If you’re a new customer, you’ll then need to create an account to complete your application. You will need:

    • A valid email address
    • Your bank and debit card details
    • A working mobile phone

    You will need to agree to a credit check, as well as let us know about your expenditure and provide some details about your student finance. Our guides will show you where to look for this info.

    2. Reply to enquiries

    When that’s done, we’ll get busy checking your details and ensuring you can afford the loan. We use the details you provide, as well as information on your credit report. If we need to know anything else, we’ll email you – so check your inbox and reply as soon as you can to keep things moving.

    3. Receive your money

      Once your application is approved, we’ll deposit your money straight into your bank account. It’s with the majority of our customers in just a few minutes.

      What can mature student loans be used for?

      Our payday loans for mature students are there to help you get out of a hole. How you use the cash is up to you – we won’t ask for any details beforehand.

      Common uses for our loans include:

      • Covering unexpected costs, like repairs at home
      • Larger outlays, for example, if you need a laptop to continue your studies away from campus
      • Getting hold of materials or equipment to assist your learning

      No matter if an application for a student loan is for a mature student or someone in freshers week, we always assess if you can afford it. If it looks like it'll put you in a bigger hole, we won’t go ahead.

      If you’re struggling with other payments or can’t make ends meet, check our Student Money Advice or go to MoneyHelper. Your university may also be able to help.

      Even if you’ve looked elsewhere but have been turned down due to your credit score, we might still be able to help. We look beyond the numbers and can provide mature student loans to those with bad credit.

      Why choose Smart-Pig’s mature student loans?

      • By students for students: We know what it’s like to be mistreated by lenders while at uni. That’s why we operate differently and always look out for you.
      • No late fees: What you see when applying is what you’ll pay. That’s it.
      • 10 days grace period: If you’ve connected your short-term mature student loan to your student finance and it arrives late, you won’t pay any extra interest while you wait.
      • A 50% cap on interest: Rest assured that interest on your loan will never exceed 50% of your borrowing, regardless of what rate you may see on the site. For example, if you borrow £100, the most you will repay is £150. This Guide to APR helps clear things up.
      • Fast cash: Want a quick mature student loan? Once you get approval, the money is yours.
      • Flexible terms: Top up your cash, extend your repayment date and pay early. If you have the chance to save on interest, we’ll help you do that. To learn more, see How it Works.
      • We’re ‘Excellent’: Our five-star rating on Trustpilot is evidence of the top-class customer service we have provided to people just like you over the years.

      Short-term loans for mature students made easy

      Don’t let money worries add to what is already a stressful time. A mature student loan is designed to help you out of a short-term issue.

      Our friendly support team are available if you have any questions. You can fill in our online contact form, send an email to [email protected] with the subject field filled or call 0203 5071 930. Lines are open 9am-8pm Monday-Friday and 10am-6pm Saturday-Sunday.

      If you’ve checked you’re eligible, apply for a student loan and we’ll see if we can help.