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In some cases, you may need to have money in a bank account to borrow student loans. However, it will be different for each person.

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10y ago

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How do you borrow money with very poor credit and no bank account?

with great difficulty


How much money do you need to open a student bank account in Chase bank and if there going to charge you?

You need $50 to open a student account at ay Chase bank worldwide.


Can you borrow 300 with your rush card and NO bank account?

Rushcards are pre-paid cards, only the money that is loaded onto it, can be spent. You can't borrow money using it.


Can I deposit money into my credit card account?

No, you cannot deposit money into a credit card account. Credit cards are used to borrow money from the card issuer, not to deposit funds like a bank account.


If a student loan was obtained 15-16 years ago can they put it back on your credit report for default and can they garnish your joint bank account if no money has ever been paid?

Do you never return what you borrow?


What is a benefit of saving money in the bank?

In certain savings account plans they have rates of interest and the more you keep your money in there, the more money you get. This is so because they borrow your money temporarily to lend others but you still have credit for that money. So you will still have your money, but the bank will give you an interest for letting them borrow your money.


Can revenue Canada freeze your bank account if you owe money from student loans?

yes


What purpose does a student bank account serve?

A student bank account offers the student loans and overdrafts with either no interest or at a lower interest than a non-student requiring a loan or overdraft. The purpose takes into account that a student will be earning lower amounts of money than a person who is in full time employment.


From where do people borrow money?

the bank


What is the process of paying a bank to let you borrow money called?

The process of paying a bank to let you borrow money is called "interest."


What is the purpose of student bank accounts?

The purpose of student bank accounts are to receive money easily and efficiently from scholarships, grants, and loans. Also, in the future you can pay back loans easily with a student bank account.


Who pays money at bank?

The person who borrow money.