Young people can manage their student loan through online banking

Tue, 25 Oct 2011

University goers are likely to be among the many people who are finding online banking is making it easier for them to keep on top of their finances - such as their student loan.

New research from Nationwide Building Society has revealed 58 per cent of individuals in the UK feel they are currently more aware of their monetary position thanks to the ease of use associated with internet banking .

In addition, 23 per cent of respondents claimed such an approach is helping them better understand different financial products, such as credit cards and Isas .

Those heading into higher education may therefore find they are able to improve their student loan management and general expenditure via the world wide web.

Richard Searle, head of channel integration at Nationwide - which is headquartered in Swindon - commented: "The research has really highlighted just how important online banking is to helping people keep track of their money."

According to the study, 82 per cent of those questioned said they manage their cashflow through the net because of the convenience this offers, while 80 per cent prefer the flexibility the approach brings.
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