Graduate loans

DeadMoney

Hi, I am currently repaying a student loan with the BOI and once this is cleared I am thinking of applying for a graduate loan to work abroad. I have looked on their site and they offer a 9.7% APR with a 3 month period before repayments commence. Was just wondering if anybody knew of any other graduate loans, or had any comments on whether they think the above is good or bad?

Thanks

Rebel1977

If your working abroad they might look for extra information such as a guarantor, or a proof of employment as if you go abroad you may never return lol handy they give you 3 months to start payments thou, think AIB have a better rate

DeadMoney

Rebel1977 wrote: »

If your working abroad they might look for extra information such as a guarantor, or a proof of employment as if you go abroad you may never return lol handy they give you 3 months to start payments thou, think AIB have a better rate

Yeah I've always needed a guarantor on my previous student loans I've gotten so I'd assume they will require one again. Thanks i'll check out AIB but I don't have the best history with them so I'd say my chances would be a lot better with BOI since I've decent enough history with them & have proven that I can pay back loans in the past.

DeadMoney

Actually I am a little worried now that I think of it. I have gotten a 2k loan the last two summers in a row and paid it back without problems. However since I was going back to college and was receiving a grant, this would also act as my ''income'' when filling out the loan application. This summer I will be finished my course so I cannot check the 'grant' box under 'source of income' when applying. I will be going abroad to work but will not have anything lined up before I go so I am worried this will create problems. I can get a guarantor (as was the case with my previous travel loans) but since I am going away for 1 year as opposed to 3 months, I assume it will be more difficult. I am also hoping to spread the repayments over a 36 month period as the loan amount I am applying for is larger than my previous summer loans. The amount is still quite small (about 3k) but with the banks as messed up as they are, I dunno how tough this could be.

Anfionn77

was in a not too dissimiliar position to yourself if you look at the thread on my situation here...

http://www.boards.ie/vbulletin/showthread.php?t=2056218470

i know also from experience that when looking for a travel loan or to work abroad as was the case with myself in 08 they will definitely look for proof of employment before you go...

best of luck and hope this was of some help...

DeadMoney

Anfionn77 wrote: »

was in a not too dissimiliar position to yourself if you look at the thread on my situation here...

http://www.boards.ie/vbulletin/showthread.php?t=2056218470

i know also from experience that when looking for a travel loan or to work abroad as was the case with myself in 08 they will definitely look for proof of employment before you go...

best of luck and hope this was of some help...

Hey man, thanks for this. I didn't want to go high jacking your thread so though I'd reply here. Yes there are definitely some similarities between my situation and yours (although you seem far more financially responsible than me ; ) Anyway last summer when I went travelling I struggled to find work until half way through out the summer. I ended up running out of my loan funds and went full limit on my credit card which they also issued me before I went. This was then revoked. I paid this entire debt off about 1 month ago in one single payment as I sold one my my possessions.

While the bank are happy that I cleared this 900euro debt, I am very worried about the fact that the card was revoked in the first place, and how this may hinder my chances of being approved for a loan. I am hoping that the bank will be happy that I have managed to repay all of my debt from the last two previous loans and will approve me this one. The amount I will be looking for is 3k so it is not exactly huge. But I fear the revoked card could come back to haunt me.

As for showing proof of employment abroad. I have a friend who manages a bar who would be able to vouch for me if they required this proof. However I thought the point of having a guarantor defeated the purpose of needing this proof?

I have another bank account which I have a pretty bad history with from my first 2 years in college so it is highly unlikely that they will approve me any loan. My best shot is with my current account which I use and have gotten loans from the past 2 summers. I don't save with the Credit Union & my folks do not have the savings to just give me a loan themselves, or take out a loan for me. So yeah am pretty ****ed if I can't get one from my bank.