Mine wasn't, and they still gave me a loan...watch out though: you try to get a loan for anything else later in life with anyhting still outstanding on you PPS loan! They'll quite happily up your credit card limit as your salary increases but you try to raise enough for a mortgage for a house in LON! And they know that you won't be able to change your bank account with such a huge amount outstanding so they can REALLY f*** you...
Always think long-term when it comes to financial institutions - don't just go for those that wave a wad in your face!