Student loans are part of government's financial support package for degree only students embarking on a course of higher education. For most students, a student loan is their largest single source of income. So unless you have very generous parents, you will need to apply.

Regardless of where you are studying, if you are from England and Wales you will apply to your Local Education Authority using an HE1 form. They will then calculate how much you're entitled to receiving – as well as working out whether you need to pay tuition fees.

They will then send you back a form that you need to forward to Student Loans Company (the government organisation that administers your student loan) who will process your application. This usually takes a month, so make sure you get paperwork done well in advance of start of term.

Tenant loans are unsecured because you do not need to own a property to use as collateral on loan. Unsecured loans are a good loan option for people who are financially stable and able to keep up loan repayments, and who may or may not own their own property.

Tenant loans can be taken out and used for any purpose, including new car, debt consolidation, home improvement or luxury holiday.

Tenant loans are available from a range of banks, building societies and other financial institutions. You can borrow from around £1,000 to £50,000 and choose to repay tenant loan over a period of 1 to 25 years.

The basic requirements for those wishing to apply for tenant loans are:

You are in full time employment.

You are paid by computerised pay slips.

Your bank account accepts a Direct Debit facility.

You have proof of identification and residence - normally utility bills.

You have made satisfactory rent payments (excluding "living with parents")