A couple of years ago I took out a student overdraft of £2,000 on my student bank account with the Royal Bank of Scotland. They have just started to charge me interest on this in the past couple of months, as you get 2 years after you graduate for this overdraft to stay interest free. I’m only able to afford to pay off the interest and not the actual overdraft.

I’m just wondering is there a way to legally and lawfully get rid of the overdraft without needing to pay it off and how do I go bout doing that?

Kind regards




When you ask about legally and lawfully, your question becomes more of a legal matter, and we do not provide legal advice.

My suggestions would be to review the terms and conditions of the overdraft, discuss it with RBS, and also seek advice from someone either at your University, or possibly the government’s student loan page.

I do not know of anyway to get out of paying the loan, as essentially an overdraft is a loan, but you may be able to switch the account to a different type of account that may be more affordable.

If none of these options help, it may be you need to just pay the interest until your finances improve and you can pay more towards the account.



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