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Advice on loans

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  • 11-11-2010 9:11pm
    #1
    tatabubbly
    Closed Accounts Posts: 1,185 ✭✭✭


    Just got stung there with 2700e worth of student fees from the north, i was under the impression that i could pay them back in installments, however was just told i'm not.

    I've made an appointment with the bank tomorrow for a loan with BOI and was wondering if anyone could give me any sort of advice on this type of meeting (i'm not the best with money!).
    I have 1 current account, a savings account and a credit card which has around 450e owed on it. Would this affect my application?


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    tatabubbly wrote: »
    Just got stung there with 2700e worth of student fees from the north, i was under the impression that i could pay them back in installments, however was just told i'm not.

    I've made an appointment with the bank tomorrow for a loan with BOI and was wondering if anyone could give me any sort of advice on this type of meeting (i'm not the best with money!).
    I have 1 current account, a savings account and a credit card which has around 450e owed on it. Would this affect my application?

    Your credit card could help your application if it is showing an ability to repay. It would look well if you are paying this off. Also if you are saving as well it would look good also.

    As always now though the banks are reluctant to give out credit. do you have a job at moment? Basically how will the loan be repaid.


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    #3
    tatabubbly
    Closed Accounts Posts: 1,185 ✭✭✭tatabubbly


    Oh yeah, sorry, I work 4 days a week so i could pay it back over time, it's not a problem, been in the position for more than a year and i've no plans to leave!

    I've been paying it off a little at a time but i do have the money to clear it which i may do tomorrow when i'm in! It should help the process on a little i hope


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    #4
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    tatabubbly wrote: »
    Oh yeah, sorry, I work 4 days a week so i could pay it back over time, it's not a problem, been in the position for more than a year and i've no plans to leave!

    I've been paying it off a little at a time but i do have the money to clear it which i may do tomorrow when i'm in! It should help the process on a little i hope

    Sounds good to me alright.

    Also it always looks better if these wages are put directly into your bank, the bank can then see exactly your situation. Paying off the credit card certainly wont do any harm to your application.


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    #5
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    As an EU resident studying in the UK you can apply for a student loan in the UK. Not sure about cut off dates - but have a look at http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/StudentsFromOtherEUCountries/DG_10035219
    You won't have to pay it back until you start earning.


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