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Mature Medicine Loan Facilities

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    #32
    Amity
    Closed Accounts Posts: 2 ✭Amity


    Just went into BOI where I have my account. I enquired about loan facilities for mature medicine and was told that there is one available for years 3,4,5 (max 30,000 over 3 years but that it is difficult to get approved for that amount, usually much smaller). However, GEMs get 100,000 which includes fees etc. Very unfair.


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    #33
    Ga_Ga_Fan
    Registered Users Posts: 13 ✭Ga_Ga_Fan


    Amity, are you currently trying to get a loan for mature med? I have an offer of mature med but cannot get a loan anywhere (even though I am already a qualified allied health professional in permanent employment). Looks like I'm going to lose my place now. I even offered AIB if I paid my first year fees myself could I get access to the GEM loan for the remaining4 years and they said no way. It's absolutely heart-breaking I'll lose the place ;-(


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    #34
    Allie79
    Registered Users Posts: 61 ✭✭Allie79


    Ga Ga - will they let you defer? Give you more time to sort something out? It just sucks that it seems to be such a major problem getting a loan, surely there are more and more people in this position every year? I know things are tough with the banks but it's an awful lot of money to have to come up with on your own.


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    #35
    Ga_Ga_Fan
    Registered Users Posts: 13 ✭Ga_Ga_Fan


    Well the letter offering me the place states that the offer is for 2011 only and cannot be deferred under any circumstances...I'm going to talk to them tomorrow though but it's not looking good. Are you starting this Sept yourself? It's shocking how sticky the banks are being r.e. loans!


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    #36
    Jessibelle
    Registered Users Posts: 1,761 ✭✭✭Jessibelle


    BOI and UB have told me they won't fund first year but will loan for 2nd year onwards, it's to stop people drawing down big loans and then dropping out, so maybe approach them? They might be able to do something if you have evidence of savings, even if it is with another bank? I'm lucky to be ok for fees for the next two years at least, barring any serious jumps up, but things are still going to be tight to say the least.


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    #37
    Allie79
    Registered Users Posts: 61 ✭✭Allie79


    I'm starting Sept at Trinity, I have the fees for first year and will sort something out after that. Will be in a different position re: loans though as my husband is working so we can apply together/ he can get a personal loan. By the sounds of it a lot rides on the staff at the particular branches, I hope it works out. It would be devastating to pass it up, it's so hard to get an offer in the first place.


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    #38
    hollingr
    Registered Users Posts: 486 ✭✭hollingr


    definitely shop around.. I guess they are going to be very tight on loans and look at individual credit ratings and financial circumstances. The same bank might not give a loan for the same reason to two different people. Is anyone you know in a position to be a guaranteur for you?

    surely if they accepted you this year they would accept you again next year given the circumstances. would be a real shame to loose a year though..


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    #39
    ady
    Closed Accounts Posts: 12 ✭ady


    I'm so sorry to hear that Ga Ga Fan. Best of luck talking to the college tomorrow. I hope they understand... I'm pretty disgusted the bank are being so harsh... I haven't heard of anyone getting a loan from them yet for MEM. I'm in a different position as my family are going to help me out so haven't approached them myself.... I wonder if you went back to the bank with 1 year under your belt would they look at it more favourably..


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    #40
    footie10
    Registered Users Posts: 27 ✭footie10


    Ga_Ga_Fan wrote: »
    Well the letter offering me the place states that the offer is for 2011 only and cannot be deferred under any circumstances...I'm going to talk to them tomorrow though but it's not looking good. Are you starting this Sept yourself? It's shocking how sticky the banks are being r.e. loans!


    How you get on talking to RCSI?

    Try the credit union. They are/have introduced a student rate so might be funds available there.


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    #41
    Ga_Ga_Fan
    Registered Users Posts: 13 ✭Ga_Ga_Fan


    Thanks for the advice everyone. I'm still waiting to hear back from the college....not holding out much hope though. It would be ideal if I could defer it, work for the year and save some money then get a loan next year. Guess I'll know my fate soon enough!


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    #42
    Feu
    Registered Users Posts: 710 ✭✭✭Feu


    myself and another mature had to pay fees for our four year course, we used savings the first 2 years, then she got credit union i think for 3rd year, and we both got bank loan for 4th year. Think they're fairly reasonable once you've paid a year or 2 yourself. Especially for meds, i would have thought.

    If you can get a guarantor it obviously makes things easier again, all the guarantor has to do is sign a few forms :)

    i do agree tho that it is best to have as much savings as possible, as it just means less stress. the last thing you want is to be worrying excessively about money. good luck with it folks


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