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GEM - Access to Funding Campaign 2013

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Comments

  • #52
    pc11
    Registered Users, Registered Users 2 Posts: 982 ✭✭✭pc11


    Alright chief, long time no chat.

    I'm not aware of any changes or updates, but I haven't been following much this year. I got the loan ok last September, I can give some info on that if it helps.

    I guess the big question is whether fees will go up this year, they didn't last year. It would be a major boost to my finances if they stay the same for a year or 2.

    What's your story? Where are you at?


  • #53
    beardedmaster
    Registered Users, Registered Users 2 Posts: 614 ✭✭✭beardedmaster


    Starting in UCD in September hopefully, using my score from 2013.
    Just was seeing what the story was with loans on AIB/BOI, and if there were any changes to the fees or loans in general, governmental or otherwise.
    Also, I'm seeing if I could get a loan for the fees for 2nd, 3rd and 4th year, and fund 1st year myself - I can't see any reason why not.


  • #54
    pc11
    Registered Users, Registered Users 2 Posts: 982 ✭✭✭pc11


    beardedmaster wrote: »
    Starting in UCD in September hopefully, using my score from 2013.
    Just was seeing what the story was with loans on AIB/BOI, and if there were any changes to the fees or loans in general, governmental or otherwise.
    Also, I'm seeing if I could get a loan for the fees for 2nd, 3rd and 4th year, and fund 1st year myself - I can't see any reason why not.

    Great, good luck with that.

    There's no viable option with AIB, so it's BOI only. Based on lat year, it's worth making contact ahead of time, but son't be surprised to find someone new in BOI handling the loans at any time and they will not be very up on the details.

    I'm guessing you may need to get the loan approval in first year and just not draw it down. They are so finicky that I can imagine they would want you to apply at offer time. I'm pretty sure you can do a partial draw down, or at worst just repay the first year right away from your own funds.

    If you meet the criteria and have no distasters in your history, you'll definitely get the BOI loan, the only question is whether they will require a guarantor. 99% will need one but I know for a fact some can get away without it.

    The key criteria are: Irish resident for 10+ years, same for guarantor. Guarantor must be blood relative. Thay told me they look favourably on science graduates and BOI customers also. Don't expect the loan approval in a hurry and not before you have to accept the offer.


  • #55
    beardedmaster
    Registered Users, Registered Users 2 Posts: 614 ✭✭✭beardedmaster


    pc11 wrote: »
    The key criteria are: Irish resident for 10+ years, same for guarantor. Guarantor must be blood relative. Thay told me they look favourably on science graduates and BOI customers also. Don't expect the loan approval in a hurry and not before you have to accept the offer.

    Irish resident, Irish blood relative guarantor, BOI customer and science graduate - all those boxes ticked!

    I'll get onto them when the exams finish, and ask them specifically about loaning 3 years worth of fees.
    Thanks for the info.


  • #56
    MathsMedMixed
    Registered Users, Registered Users 2 Posts: 19 ✭MathsMedMixed


    beardedmaster wrote: »
    Also, I'm seeing if I could get a loan for the fees for 2nd, 3rd and 4th year, and fund 1st year myself - I can't see any reason why not.

    It'd be great if one can do this.

    pc11 wrote: »
    I'm guessing you may need to get the loan approval in first year and just not draw it down. They are so finicky that I can imagine they would want you to apply at offer time. I'm pretty sure you can do a partial draw down, or at worst just repay the first year right away from your own funds.

    If one can decide how much money to be transferred at an instant as in a partial draw down, it'd be a good too. Hopefully it's part of BOI T & C.


  • #57
    letsdothis
    Registered Users, Registered Users 2 Posts: 230 ✭✭letsdothis


    MathsMedMixed wrote: »
    It'd be great if one can do this.




    If one can decide how much money to be transferred at an instant as in a partial draw down, it'd be a good too. Hopefully it's part of BOI T & C.

    Anyone have any experience in doing this? I don't figure I'll need the full amount each year and don't want to take out loans I don't need.


  • #58
    pc11
    Registered Users, Registered Users 2 Posts: 982 ✭✭✭pc11


    letsdothis wrote: »
    Anyone have any experience in doing this? I don't figure I'll need the full amount each year and don't want to take out loans I don't need.

    As far as I remember, you must draw down all or nothing each year. Remember it's fees only. At worst you can just repay part of it at any time, that's no problem.

    Here is the application form from BOI with the terms and conditions, it may be useful to read to prepare.


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