Student Loans / Loans in general

irish life

Just a few quick questions.

What's the best way to apply for a student loan, is AIB the best?
Would it be possible for me to get €1600-2000 and pay it back when I finish college in 2 years? (my mother would act as guarantor)

I need that amount of money asap and a student loan seems to be the only option. I will be looking for summer work but I don't want to be paying every penny of my wages into the bank so the only time I'll be able to pay it back is 2 years down the line when I've finished college and got a job.

Any other info would be great, thanks.

Ruu_Old

You already posted it where it should be, give it a chance.

irish life

Ruu wrote:

You already posted it where it should be, give it a chance.

I just need it sorted as soon as possible and it would get more views here.

Tony Danza

You'll be paying a higher interest rate than if you just got out a loan and starting paying it back straight away, which is what I would say is the best way to do it. You could pay it back at around €40 a week or something small like that, if you didn't wait 2 years to start paying it.

coffee_cake

Ulster Bank do an interest free overdraft of up to 650 euro for a year or so if you have a student account with them, and have good rates on student loans for higher amounts
So I'd recommend them

irish life

Tony Danza wrote:

You'll be paying a higher interest rate than if you just got out a loan and starting paying it back straight away, which is what I would say is the best way to do it. You could pay it back at around €40 a week or something small like that, if you didn't wait 2 years to start paying it.

Cheers. Would I be paying much more interest? I think APR for a student loan is currently 8.72% with AIB. Also, is it possible to pay a lump sum of the loan off at once or do you have to pay an equal amount per week/month?

Huggles

I went with AIB when I was in college and they gave me a great service. I applied one afternoon and had 3000 at lunchtime the next day .

And yes you can pay a lump sum off whenever you have it. I think you can agree a time when you can start paying it back...18 months or something, can't remember, go into any AIB and talk to student officer.

spoofilyj

I had to get a student loan for a car last summer.

I got eight grand to cover the car, insurance and tax. I had a great summer job so I got to pay the loan off pretty quickly.

I got my loan with AIB as they seemed to be the best at the time. Try to negociate the interest down a bit if you can. trust me it helps.

I have a friend who is becoming a barraster in Dub at the mo he has a loan of 25k a year for 3 years. banks have no problem putting off the repayment date but they'll make you pay for it in interest. you may have to pay as much as 25% extra off the original loan when you come back to repay it.

If I was you I'd try the credit union or AIB.
Best of luck hope this helps.

r3nu4l

Yep,

AIB or Credit Union, I had loans with both and they were very flexible about how much I paid back each month and there was no problem paying the laons off early either

I got very good service from both but AIB was slightly friendlier (probably because I actively banked with them, whereas I hadn't been near my credit union in years until I approached them for the loan:D ).

the whole year inn

With you mother as guarantor you will def get the loan , just go in and fill out the form and get your mother to sign it and decide on what to pay back, I got a loan out for america last year and nearly paid off now I got 2700 out, not to bad paying it off every month slowly it gets payed.

John101

last summer i was in many parts of south and south east asia. i used my boi credit card and only got charged when there was no money in the card. ie when i had exhausted all the funds i had put into it before i left.