I’m not even sure if they’re credit checked or if they make sure the student can even afford it. I think it’s quite an evil tactic if you ask me though. One of my younger siblings was one of those who ran headstrong into university all YAYYYY Free Money!!! PARTaY TIME!!! and soon maxed out their overdraft within a few weeks. It was incredibly irresponsible, but I also feel the bank is equally as irresponsible for enabling students with those overdrafts.
After graduating I believe they move you onto a graduate account, which is sort of like a grace period to essentially pay off your overdraft, but some banks do offer perks and services to help graduates get a job. Then it becomes a standard account and your overdrafts gains an interest fee. For a few people it’s not until this point they realise the error of their ways and the hole they’ve dug for themselves. Not easy to climb out of at that stage either, when those fortunate enough to break into their field are likely still in entry level roles. I feel for them.
I suspect this explains why traditional banks are still very popular among students, when you’d think banks like Monzo and Starling are more fitting for their demographic. I expect it’s the notion of essentially what is seen as free money that leads them to have a high satisfaction too. I’d love to see a poll done whereby former students are asked these questions 3 years after graduating.