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Can I pause payments on a BOI student loan?

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  • 06-04-2009 12:08am
    #1
    sitstill
    Registered Users Posts: 1,380 ✭✭✭


    So I am about to lose my job :( and am still paying back my student loan with BOI, I actually pay in more than I am supposed to each month as I was hoping to pay it back early. Do you think they would let me take a break from paying it for say 4-5 months to give me a chance to sort things out? How would I go about sorting this? Thanks


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    #2
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    Contact your bank and ask them can you. As far as I know it's based on your circumstances etc.


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    #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    As Random said, give your branch a ring. I'd say you'll be in a better position to request this than others might be, because you've been making extra payments on your loan, so it might be entirely possible for you to pause payments for a couple of months while still keeping the loan on schedule.


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    What you "might" be able to do is withdraw the extra payments you have made thus bringing back the loan inline to the balance where you not paying in extra. When I say "might" it would be up to the branch to allow this and TBH it would be done in exceptional circumstances. Therefore you might not need to pause repayments at all.


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