Do you need £300 – £1,500 to pay for an unexpected bill that your teacher’s wage doesn’t cover? If so, you’ve come to the right place! The Cashfloat Team provides payday loans for teachers when they need an extra cash injection to help them get through to the next payday. Apply now and get the money in your bank account within one hour* if you’re approved!
Whether you’re a head teacher, a classroom teacher or a teacher’s assistant, if you need to borrow money for an emergency expense or to help pay your rent, Cashfloat can get you the money you need quick. Apply here, and you’ll get an instant decision.
Teacher payday solutions
Being in the teaching profession has many perks, like the extended holiday allowance and the job security. There’s also the overall satisfaction teachers get from contributing to the development of children and young adults. Another perk is the paycheck teachers get at the end of every month.
For some teachers, however, the monthly paycheck isn’t always enough to cover all the expenses. Sometimes, when people have a sudden emergency that needs extra funding, they get stuck. As a leading direct lender in the UK, we look at teacher salaries and why some teachers need quick loans online.
Becoming a teacher
There are various ways to join the teaching profession. However, all teacher training courses include 24 weeks of practical classroom experience in two or more schools. There is also academic study, experienced professional mentoring, tutoring in classroom management and ongoing assessment of teaching skills.
All teachers in state schools in the UK have to do Initial Teacher Training (ITT) or Initial Teacher Education Training (ITET). Completing these training programmes leads to Qualified Teacher Status (QTS) in England and Wales and the Teaching Qualification (TQ) in Scotland. There are various routes into teaching which ITT and ITET form part of. One of the most popular is the Postgraduate Certificate in Education (PGCE). With a PGCE, a teacher will first complete a degree and then do the PGCE course to become a qualified teacher.
An alternative route into teaching is the School Direct scheme. In this scheme, teachers are recruited and trained in partnership with universities, colleges or school centred initial teacher training programmes. The training lasts a year and is either salaried or unsalaried. On unsalaried courses, the student pays their tuition fees but may get funding through a bursary, student loan or scholarship. Alternatively, it can be salaried with the trainee teacher being paid an unqualified teacher’s salary and not paying any tuition fees.
There are various other ways into teaching as well, such as postgraduate teaching apprenticeships and undergraduate teaching degrees. The simplified ways of entering the profession often makes teaching attractive to people who want a change in career at an older age.
As a profession, teaching continues to be dominated by women, especially at primary school level. Approximately 76% of teachers are female. Often, women consider teaching to be a job that goes well with raising children. This is partly because the convenient working hours and long holidays mean working mothers don’t have to worry as much about childcare expenses.
Payday loans for teachers
Cashfloat – a dynamic payday loans direct lender in the UK – has noticed that teachers are making a large number of applications for payday loans.
The question is: Why? Although it’s generally thought that teachers aren’t badly underpaid, an increasing number of teachers are applying for payday loans.
Often, the teachers that apply for payday loans are young teachers who are just entering the profession. This gives us an indication of what’s going on. Teachers at the start of their careers are on the lowest salaries and are more vulnerable to the effects of inflation and price rises that have happened recently. Newly qualified teacher salaries start at £28,000 and for unqualified teachers salaries can be as low as £19,340. Read about teacher salaries here.
With prices rising in the UK, more and more teachers are finding their salaries don’t always cover everything. There is a shortage of rental properties in the UK, and rental prices have risen sharply in recent years. Between May 2022 and May 2023, private rental prices rose by around 5% across the UK. This came on top of a 3% rise the year before. Utility prices have also soared and prices for everyday goods have risen as well.
With prices having risen, more and more teachers have found they’ve been caught out. When unexpected expenses crop up, say you need to replace your laptop or pay for a dentist, you might find the monthly salary doesn’t cover it. As a responsible lender, Cashfloat is happy to provide short term loans for teachers who need extra funds to pay for an emergency expense. It’s important to remember, however, that short term loans online are an expensive form of credit and should only be used in an emergency.