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Deferred Graduate Loan Repayments

  • 30-05-2008 4:30pm
    #1
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭


    Hey guys, just trying to do an initial bit of research here before I go knocking on doors on Tuesday...

    I've recently finished in college, and will be starting a graduate training contract in an auditing firm in October for 3.5 years, earning a pretty decent amount. I got myself a car last week (well my dad got it for me at the right price and now I have to pay him back), but since this is my last "free" summer I'd like to work <18hrs part time for the next 4 or 5 months.

    So obviously I won't be earning enough to enjoy summer AND pay back a car loan. My dad said he doesn't mind if I want to wait til I start work to pay him back, but I'd rather get it sorted out now if possible. I know BOI do a graduate loan where you can deffer the first 3 months of payments, does anyone know if I can defer for longer than that with other banks? (say 5-6 months)

    I'm currently a PTSB customer and have been since my communion (cliche much?). My dad also has a lump sum depostied in EBS in my name which is worth more than what I'd be looking to borrow for the car.

    So BOI, PTSB and EBS are the ones I'd probably be going to, any advice on how to approach them and whether they're likely to give me 7.5k and defer the repayments until October/November? If all goes to plan I'd like to pay it off in one year, but will take it out over two or perhaps three so as not to put myself under too much pressure. So it would be nice to avoid penalty charges for early repayments too!!

    So yeah, quite a long post, but I just wanted to give all the info I thought was necessary. Thanks in advance, all!!


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