Representative 49% APR
Representative Example: Borrowing: £1200 for 18 months, Total Repayable: £1628.28, Total Interest: £428.28, Interest Rate (Variable): 49.9%. Rates between 9.3% APR and maximum 1721% APR. New Horizons is a registered trading name of New Horizons Finance Limited, which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker, not a lender. Loan repayment terms are 3-36 month loans.

Warning: Late repayment can cause you serious money problems. For help, go to

Student payday loans. How do they work in the UK?

A payday loan for students work just like any other type of payday loan. After providing us with some details regarding your situation and what you need, etc. New Horizons will work to match you with the lenders most suitable for you, and just as importantly, those most likely to give you the funds you need. Whereas in the past payday loans for students across the UK were not seen as a safe investment due to outdated notions regarding age and employment status, an increasing number of lenders now recognise that this is no longer the case.

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Can I get a payday loan if I’m a student?

Understanding that many students now work part-time and full-time jobs, direct lenders are now offering payday loans specifically designed for students. Taking into account the many pitfalls often surrounding student life, such as irregular employment hours, living away from home for the first time, and normal student life in general, many direct lenders now have payday loans when they really need it like everyone else.


Do I need to be in full-time employment?

No, you do not. New payday loan lenders know that the majority of students cannot work full-time due to their studies. Understanding this, and the fact that a lot of students support themselves by working part-time jobs, many direct lenders now offer payday loans specifically designed for students. The lender will, however, require the applicant to have some income to ensure they can repay the loan.

New Horizons is an independent broker, not a direct lender. Our role is to find the best lender for you. Believing trust and transparency are essential for such loans, all of the lenders we feature are direct lenders authorised and regulated by The Financial Conduct Authority.

Outside of overdrafts and student loans, students can struggle to obtain finance. At New Horizons, students can apply for short term loans and repay over 3 to 36 months.

Will it affect my credit rating?

There are, of course, many concerns when applying for a loan; one of which is how it will affect your credit rating. With all direct lenders legally obliged to perform a credit check on every loan application, it is possible that your credit rating could be negatively affected if you are refused.

New Horizons uses your information and requirements to match you up with the lenders most likely to accept your application. By doing this, you will get the money you need much more quickly, and it could also prevent you from damaging your credit rating. Of course, merely taking out a loan shouldn’t affect your overall credit rating; problems only arise when you have difficulty with repayments. If such loans are paid back when agreed, they can help you improve your credit rating as it shows your commitment and ability to make such loan repayments.

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