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Loan for jobless student?

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  • 30-04-2009 4:08pm
    #1
    civis_liberalis
    Registered Users Posts: 3,772 ✭✭✭


    Just thought I'd ask to see what options people think might be open to me, as regards getting a loan.

    I'm currently finishing up my first year of a 4 year degree course as a mature student.

    I haven't been able to secure any type of p/t job since I started college or one for the coming summer hols.

    I will be very much in need of cash for college come September, and to be honest, in the meantime also.

    I hate to think worse case scenario, but if I don't manage to get a job, I'll be up sh!t creek and may not be able to take up my place in second year.

    So for the moment, I am really in need of an amount somewhere in the order of €800 - €900. Accomodation and living costs will be close enough to zero for the summer, mostly due to my not having any cash to pay for them... but at the same time, I won't have any money coming in to service a loan either, well not any time soon anyway.

    Current bank balance currently runs into the pennies...


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    #2
    Bobeagleburger
    Registered Users Posts: 45,454 ✭✭✭✭Bobeagleburger


    How do you expect to pay this loan back?

    Loans should not be given to anyone who have'nt got the means to pay it back imo.

    The days of banks giving loans to every Tom,Dick and Harry are gone and rightly so.


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    #3
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Sorry, but I don't see how you can expect to get a loan without any plan to pay it back on a formalised schedule. Having said that some eejit in some bank will probably give it to you. Not being personal but that's the way I see it


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    #4
    civis_liberalis
    Registered Users Posts: 3,772 ✭✭✭civis_liberalis


    I'm not talking about a 15k loan guys.

    And the days of giving loans to every "Tom, Dick and Harry" don't seem to be gone either. Students being given loans that they don't have to pay back till they are finished their studies are still being given apparently.


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    #5
    pipsqueak
    Closed Accounts Posts: 618 ✭✭✭pipsqueak


    window cleaning, show shining, dress up in a leprechaun suit on grafton st and charge idiots 5 euro to have pic taken??? escort?? i dunno:pac:


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    #6
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    Helpful posts only please.


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    #7
    civis_liberalis
    Registered Users Posts: 3,772 ✭✭✭civis_liberalis


    Toots85 wrote: »
    Helpful posts only please.
    Exactly. If I wanted the opinion of a bunch of smartarses, I would have posted in AH.

    Does anybody know of any financial institution currently offering loans to students that are repayable in part/full when they complete their course. I heard rumors of this, but as far as I can remember, the person that told me had only needed it for a relatively small sum i.e. €100-200.

    I'm not looking to pull one over on any bank. I have the cop on to know that I shouldn't knowingly enter into a contract with a bank that I would likely have difficulty in fulfilling.


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    #8
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    Have you tried your local credit union? They might be a bit more understanding than a bank. All branches are different, but a lot would require you to have savings with them first.

    http://www.creditunion.ie/Default.aspx


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    #9
    civis_liberalis
    Registered Users Posts: 3,772 ✭✭✭civis_liberalis


    Thanks for the suggestion, but I pretty much ruled out the credit union as I haven't had anything meaningful coming in for a good while, so if I had money saved with the Credit Union, I wouldn't be in my current position. You've probably more or less figured that one out anyway. Thanks though.


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    #10
    Nappy
    Registered Users Posts: 329 ✭✭Nappy


    I think ulster bank have an interest free overdraft facility with 650e credit so that should keep ya goin... I dont think you'd have much problems getting a bank loan but without any income you'd find it impossible to pay back..


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    #11
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    Ye, i understand you dont have anything coming in, but explain to them that, but you plan to have such a time and see what they say. Like i said all branches are different.


    I know ulster bank used to be throwing money at students for free for a long period of time. Im sure this is probably stopped now, but its worth looking into


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    #12
    Scuba_Scoper
    Closed Accounts Posts: 183 ✭✭Scuba_Scoper


    From AIB's Website re: Student Plus Current Accounts
    http://www.aib.ie/personal/loans/Student-Loan

    About our Overdrafts for AIB Student Plus Account Holders
    As an AIB Student Plus Account holder, authorised overdraft facilities for amounts up to EUR1,500 will be ‘interest free’. Authorised overdrafts over EUR1,500 will attract the Bank’s Standard Variable ‘A’ rate for Personal Overdrafts on the balance greater than EUR1,500. The current APR is 12.50% variable.

    Talk to your local Student Officer in your campus branch


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    #13
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    If someone will act as a guarentor you should have no difficulties doing what you want to do (depending on the amount). I'm sure you're not looking for a massive amount, so TBH just go to you branch and put up the application with the lender.


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