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Graduate medicine Loans

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Comments

  • #952
    etymon
    Closed Accounts Posts: 467 ✭✭etymon


    BanzaiBk wrote: »
    Thanks for the reply. We were told on Weds that we would be successful in applying for a mortgage but we could not incorporate the GEM loan into this. Its a bit of a blow to be honest and has my poor OH in awful form since. At the moment we could on paper pay back the two huge sums monthly but we would have pittance left to live on. We're going to have a long think about what to do next. Going abroad for a few years seems like the best bet for my OH but she's reluctant to leave and I'm tied up here for the next 2 years at least. Mind melt!

    Ah that's sh**e. My other half works in quite a 'niche' family business job here so we are also stuck here. We have done our sums and we can afford a mortgage repayment of about 1200 plus 750 loan and we will be ok on the rest but definitely not swimming in it. Luckily we want to live Northside ;-)
    ANyway at least you can get the mortgage, and don't forget your lady will be earning a bit more every year and you can head off in a couple of years and maybe do one of those nice Canada rural jobs for 600k and pay it all off! (Yes I did see an ad for that in the Medical Times!)


  • #953
    pharmacrunch
    Registered Users Posts: 58 ✭✭pharmacrunch


    Can you start paying back the loan immediately once its drawn down? For instance if I take out the full loan for fees could I say pay back 100e per week on it or would I have to wait for the four years to run its course before I begin payment?

    (total novice to the world of loans)


  • #954
    nerrad01
    Registered Users Posts: 240 ✭✭nerrad01


    pharmacrunch wrote: »
    Can you start paying back the loan immediately once its drawn down? For instance if I take out the full loan for fees could I say pay back 100e per week on it or would I have to wait for the four years to run its course before I begin payment?

    (total novice to the world of loans)

    you can start paying back straight away


  • #955
    supraspinaswim
    Registered Users, Registered Users 2 Posts: 80 ✭✭supraspinaswim


    Got a question relating to getting more funding for accomm off of BOI ? Are they willing participants in giving out more funding on top of the fees loan. Im just coming out of my primary degree so saving up hasnt really been an option nor is taking a year out. UL looks attractive since Im an UB customer but would BOI be willing say to give an extra 20k for accomm or is that an outside personal loan ?

    Any help would be appreciated, its bad enough waiting on my final results: one more month !


  • #956
    nerrad01
    Registered Users Posts: 240 ✭✭nerrad01


    supraspinaswim wrote: »
    Got a question relating to getting more funding for accomm off of BOI ? Are they willing participants in giving out more funding on top of the fees loan. Im just coming out of my primary degree so saving up hasnt really been an option nor is taking a year out. UL looks attractive since Im an UB customer but would BOI be willing say to give an extra 20k for accomm or is that an outside personal loan ?

    Any help would be appreciated, its bad enough waiting on my final results: one more month !

    UB definately wont give anything else except fees loans and as far as i know BOI are the same. The people who got extra loans for accom had to get parents to take out credit union or just standard bank loans etc. at normal interest rates with payments starting immediately


  • #957
    pharmacrunch
    Registered Users Posts: 58 ✭✭pharmacrunch


    Funding is now the only thing standing between me (and id assume many others) and starting in September.

    I know the BOI loans are a 10 yr period in theory - would people working actually have a realistic chance of paying this off?


  • #958
    pc11
    Registered Users, Registered Users 2 Posts: 979 ✭✭✭pc11


    supraspinaswim wrote: »
    Got a question relating to getting more funding for accomm off of BOI ? Are they willing participants in giving out more funding on top of the fees loan. Im just coming out of my primary degree so saving up hasnt really been an option nor is taking a year out. UL looks attractive since Im an UB customer but would BOI be willing say to give an extra 20k for accomm or is that an outside personal loan ?

    Any help would be appreciated, its bad enough waiting on my final results: one more month !

    I spent a LOT of time with the banks last year and there is NO chance of this under the GEM loans with either BOI or UB, sorry. You could try a credit union but you will need a guarantor and generally you will need to make payments while studying. And you will probably need a history with the credit union.

    Why is taking a year out not an option? What's the rush? There are people in their 30s and even 40s doing GEM. Frankly it would do some people the world of good to enter a little later.


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