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Student Loan

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  • 28-07-2008 5:46pm
    #1
    Beau x1
    Closed Accounts Posts: 911 ✭✭✭


    Just a few questions:

    I will be going to Uni in Sep 2009 and its all grand except I need a loan to cover accommodation costs (about €3500/year, for 4 years)

    1. Is it possible I can get one like in the UK where I can pay it back when I finish my degree and am employed?

    2. I know we're in a recession, the credit crunch etc and all that lads, what are the chances of me getting one?

    3. How soon should I look into it and apply for one? Don't want to leave it last minute if you get what I mean.

    Cheers.


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Beau x1 wrote: »
    Just a few questions:

    I will be going to Uni in Sep 2009 and its all grand except I need a loan to cover accommodation costs (about €3500/year, for 4 years)

    1. Is it possible I can get one like in the UK where I can pay it back when I finish my degree and am employed?

    2. I know we're in a recession, the credit crunch etc and all that lads, what are the chances of me getting one?

    3. How soon should I look into it and apply for one? Don't want to leave it last minute if you get what I mean.

    Cheers.

    Start looking for a guarantor because you will need one. For 14k definate. Ask to postpone payments for a while. And as you won't need all of the 14k for a while stick the rest on deposit and make a bit of interest back when you're at it. And finally get a part time job ;)


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    #3
    Beau x1
    Closed Accounts Posts: 911 ✭✭✭Beau x1


    Apologies if this is a ridiculous question but where do I go to contact a guarantor? Just a local Bank of Ireland or something? Postponing payments, does that mean I can pay it back after I finish Uni?

    Thanks, the deposit is a nice idea but I think with such a loan used for this manner they may give me this initial amount I need for the first year (€3500) and then review the situation for the 2nd year etc opposed to giving me the €14k in full?


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    #4
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    Guarantor will be your da or someone like that,willing to take on the loan in the event that you can't repay it.


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    #5
    Beau x1
    Closed Accounts Posts: 911 ✭✭✭Beau x1


    Ah yeah sound sound. Well in that case I have one, but I need to know should I start contacting banks now?


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    #6
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    You might as well find out what they'll want from you,they might expect you to have saved a certain amount before they'll give you a loan.


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