Student Loan advice

chris85

Wondering what banks do the bes deals on student loans. not much info on websites and would like a bit of info before i head down to the branch.

I am a final year engineering student BTW and have never had any credit problems with the bank.

watna

I got my student loan with AIB, as that's where i banked. i got a good enough deal in that it was approved very quickly (had to get my dad to be guarantor) and was direct debited from my own bank account, plus they were flexible when I topped it up a while back (i.e. gave me more money easily which i shouldn't have asked for)

I got a loan out because I was doing a tough course and didn't want to work. I'm still regretting it. I could have done without it and I'm still paying it off. I'm off travelling soon and i even have to ask the bank to reduce payments so i can affrod to go away.

My advice is to think about it. Only get the loan if you really really really need it!

pow wow

BOI do a 9 month interest free 'travel loan' up to 2k - I just got one and no, I'm not going travelling

chris85

watna wrote: »

I got my student loan with AIB, as that's where i banked. i got a good enough deal in that it was approved very quickly (had to get my dad to be guarantor) and was direct debited from my own bank account, plus they were flexible when I topped it up a while back (i.e. gave me more money easily which i shouldn't have asked for)

I got a loan out because I was doing a tough course and didn't want to work. I'm still regretting it. I could have done without it and I'm still paying it off. I'm off travelling soon and i even have to ask the bank to reduce payments so i can affrod to go away.

My advice is to think about it. Only get the loan if you really really really need it!

Good advice must make sure that i really need it. Another reason was thinking of getting it is that I can show the bank I can pay back the loan as it will be better in the future for bigger loans.

ellscurr wrote: »

BOI do a 9 month interest free 'travel loan' up to 2k - I just got one and no, I'm not going travelling

Very good. Was in with BOI yesterday and got how much it would be for €2000 and was told nothing bout interest free travel loan.

Dam them, used to work for them and all and been with them 7 years now. Typical

tywy

The 2k travel loan is for students...

Nordwind

I'd go along with those saying to check that you really do need this loan. I took one out in my 3rd year of college to get me through my final year. Initally, I was planning to get a 2k loan and leave it at that. When I went in they asked how much and for some bizarre retarded reason I said 4k. Cue me purchasing unneccessary items such as a laptop and what not. So if you're unlike me and you're able to control your finances then fire away. Just plan it out - check what the interest is, how much the monthly repayments are going to be, how many months you'll be paying back, can you make a lump sum payment etc.

pow wow

tywy wrote: »

The 2k travel loan is for students...

He (she?!) is a student. I'm final year aswell and had no problems taking the travel loan out in Jan this year.

culabula88

Sorry about this but just want to clarify- if you pay back the 2000e to Bank of Ireland before the end of the nine months then you pay no interest at all on the 2000e- is this the way it works?? just want to double check.

I tried to ring banking 365 but they wont deal with the query and know nothing about it until i can chat to the student officer on Monday.

P.S does the bank have to get any evidence that you actually went travelling???

random_banter

Hey guys, sorry for dragging this thread up, but I had some questions about the student travel loan mentioned here.

What is the procedure like for getting this loan? Im a postgrad student and I want to do a couple of trips over the summer but need to pay for them now, was thinking of getting this loan and then paying it off with my summer work.

Is it hard to get? What sort of questions do they ask?

Thanks!

pow wow

If you pay it back within the 9 months there is no interest on it. You can pay it back however you want, either regularly or as a lump sum at the end.

I wasn't going traveling but told them I was (serial fibber ), they didn't ask for any evidence, though the loan officer did make idle banter about whether I was excited about going etc etc. It was a simple enough process, I hold a BOI student account, went in and said I wanted the interest free travel loan, filled out a few wee forms, she rang me with a decision a couple of days later and the funds were in my account within the week.