What are small loans for students?

University life comes with lots of challenges, some big and some small. But money shouldn’t be the main thing on your mind when you’re trying to study or settle into a new area.

With our small cash loans for students, you can borrow anywhere from £50 to £350 to cover a shortfall and get back on track. Applying online is easy, and if we say yes, you could see the money land in your bank account minutes later.

We set up Smart-Pig after experiencing how difficult managing and borrowing money can be when you’re at university. So we’re happy to wait until your next student finance instalment lands for you to repay, and we won’t let interest pile up beyond 50% of your loan amount.

There are no hidden extras or late payment fees to worry about either. This way our small private student loans stay small.

How our small private student loans work

Borrowing a small amount of money doesn’t have to be a big deal. Just check if you meet our eligibility criteria first:

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

Sound like you? If so, here’s how our loan process works.

1. Fill in an application

    Use the small student loans calculator on our homepage to choose how much you want to borrow and when you’ll repay it. If that’s when your next student finance instalment is due, check your statement for the date. Enter the first day of next term if you can’t find it. Or if you know you’ll repay earlier, put that date instead and see if it saves you money on interest.

    Don’t have an account with us already? Then you’ll need the following to create one:

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

    As a responsible lender, we’ll run a credit check and cross-reference it with information on your student finance and application. Be wary of adverts for small loans for students with no credit checks – when things sound too good to be true, they usually are!

    These guides will help you get all the info we need at this stage:

    2. Answer our questions

    We’ll use everything you’ve given us to make sure you can afford the loan. Sometimes we need to double-check things, and we’ll get in touch by phone or email if this is the case. Monitoring your notifications and replying promptly will help keep the process moving along.

    3. Get paid

      If we say yes, you’ll receive the money soon after. For most people applying for our small student loans with no cosigner, this only takes a few minutes.

      What can our small loans for UK students be used for?

      Student life can be unpredictable and sometimes you might be overstretched financially. Our small personal loans for students can help with:

      • Paying unexpected bills such as laptop or home repairs
      • Covering larger costs like student accommodation deposits
      • Buying materials or equipment for your course or to support your learning
      • Other costs that might impact your university experience

      Don’t be put off applying for small loans for students with no credit or poor credit either. We might still be able to help, though we’re committed to responsible lending. We won’t offer a loan if it doesn’t seem right for you – no matter how small.

      If you’re struggling with other debts or money management in general, read our Student Money Advice or visit MoneyHelper. Your university might be able to help too.

      Why choose Smart-Pig’s small cash loans for students?

      We make it quick and easy to get that little bit extra. Here are seven reasons to feel good about applying for one of our small student loans without a cosigner:

      • Small loan amounts: Get from £50 to £350 in your account when you need extra help between student finance instalments.
      • Designed by students: We know how it feels to be messed around by dodgy lenders. We understand what university life can be like and we want to help.
      • No hidden charges: You’ll know all the numbers associated with your loan from day one and they’ll never change. No late payment fees, no sneaky extras.
      • Grace period: Sometimes student finance payments get delayed. If this happens to yours, we’ll give you a 10-day interest-free period so you don’t lose out.
      • Capped interest: We cap interest on our loans at 50% of the amount you borrow. So, if you get a small private student loan of £50, you’ll never pay more than £25 in interest. You might see different rates across our site – check our Guide to APR to find out why.
      • Speedy process: If we say yes, we won’t hang around. Our customers usually receive their loans in minutes.

      Flexible features: Need to move your repayment date or get a top-up? Want to repay early to save on interest? We’re happy to help. See How it Works.

      Small personal loans for students made easy

      If you’ve got costs to cover and can’t afford to hang around until student finance comes in, we could help.

      Speak to our friendly customer service team if you still have any questions about our small loans for students. You can fill in our contact form, email [email protected] (with a subject filled) or call 0203 5071 930. Our lines are open from 9am-8pm Monday-Friday and 10am-6pm Saturday-Sunday.

      If you’re happy a small private student loan is right for you and you’re eligible, apply today and get the short-term help you need.