What is a direct lender of student loans?

A direct student loan lender like Smart-Pig is one that doesn’t work with investment banks or brokers. But what’s that in normal-speak, we hear you cry?

Well, it means that when you get a loan, you cut out the middlemen and get a much more straightforward service. The money comes directly from us, your private (fancy!) student loan lender. As a result, we don’t have to pass on any costs that might come from paying brokers, comparison sites, or any other pie-fingerer, for that matter!

Our direct lender loans for students in the UK are available in small, manageable amounts from £50 to £350. If all goes well with the application, the money will be popped in your account the same day – usually within a matter of minutes.

When it comes to paying it back, our direct student loans are capped at 50% interest and we also offer a whole host of great benefits too – scroll down to learn more.

Why choose an alternative student loan lender that works direct?

There are lots of reasons why choosing a private, direct student loan lender makes plenty of sense:

  • A quick and easy approvals process.
  • Reduced interest costs compared to using a broker.
  • Your data stays in one place, instead of being pawed through by a long list of lenders.

We don’t appear on brokerages, so we’re pretty exclusive.

Why might a student need the services of private student loan lenders?

We’ve been there and got the t-shirt: uni is officially a great time. But sometimes the old finances can take a knocking. That makes private student loan lenders helpful for all sorts of reasons.

  • Manage uni costs: If you’ve managed to drain the account and need books, equipment, or other materials, contacting a student loan lender can help meet the cost.
  • Tackle unexpected expenses: If something crucial breaks, like your laptop, bike, or car, payday loans for students from a direct lender can be useful.
  • Help with housing: If you’re a halls fledgling and need help with a deposit, you might consider a private student loan lender.

Naturally, if you can’t afford the payments, a payday student loan from a direct lender is a bad idea. That’s why we’ll assess your finances before we okay it, and if we think you might get into a pickle, we’ll decline to lend. That said, there are options available for students with bad credit.

Learn more about meeting your financial commitments in a smart way with our Student Money Advice or visit MoneyHelper. Plenty of universities offer financial advice and assistance, too.

Why choose Smart-Pig as your student payday loans direct lender?

Smart-Pig is the private student loan lender started by students, for students. That’s only one of the reasons you should choose us, though:

  • Student-friendly: We know what matters to students looking for payday loans because we had a pretty bad experience – learn more about that unfortunate incident
  • Fee-free: We don’t charge hidden costs and if your circumstances change, we’re on your side.
  • No-worry late payments: All our customers get a 10-day interest-free grace period for late payments. If student finance can pay late, you should be able to as well.
  • Capped interest fees: Our interest fees are capped at 50% (half the 100% legal limit which many other alternative student loan lenders charge). Borrow £100, pay £150. Simple. Learn more about APR here.
  • Laser-fast payment: The second you get approved; we’ll send the cash. (Okay, it might take a minute or two, but that’s still seriously rapid!)
  • Flex with us: No, we don’t also do yoga classes. Choose Smart-Pig as your student loans direct lender and you may be able to top up your loan, repay early, or change your repayment date entirely. Find out more about our flexible terms.

Easily calculated: So you can work out exactly what your loan will cost, we have our student loans calculator.

Who can use the services of a direct student loan lender?

Our direct private student loans are available to all types of students. You can get a loan if:

  • You study at a UK college or university and get government finance via a Student Loan, NHS Bursary or SAAS Award.
  • You’re aged 18 or over.
  • You live in the UK.
  • You have a valid UK bank account and debit card.
  • You’re not in an insolvency agreement (bankruptcy or an IVA).

We will perform a credit check because we care about responsible lending. Bad credit might not be an issue – apply and we’ll see what we can do.

Simple loans for students from a UK direct lender

If you want to learn more about payday loans for students from a UK direct lender like Smart-Pig, contact our experts. Use our online contact form or email [email protected].

Alternatively, go traditional and telephone 0203 5071 930 – 9am-8pm Monday-Friday and 10am-6pm Saturday-Sunday.

If you feel happy to continue and we accept your application, apply for a student loan and smarten up your finances – stat.