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Can I take out a loan to repeat the year?

  • 02-08-2008 12:21pm
    #1
    Iontach
    Closed Accounts Posts: 24 ✭


    I messed up big time last year, and I'd love another shot at it because I'm certain I'd cop myself on and get down to it. Even if I scrape past my repeat exams, I think I'd be at quite a disadvantage next year as I'd be lacking the foundations.

    Trouble is, I can't really afford to pay €5000 or however much it costs for the year. Would I be able to take out a loan and pay it back later or anything?


Comments

  • #2
    Nothingcompares
    Closed Accounts Posts: 2,923 ✭✭✭Nothingcompares


    I did exactly what you hope to do about 3/4 years ago. Failed a year, had to repeat, cost me ~5000. I was a member of AIB at the time and they approved the loan with delayed repayments. I repayed it during the summer when I was working.

    It was a "low interest" loan but it certainly wasn't "0 interest". I also had a guarantor. I'm still repaying it now and tbh it's a pain in the arse.


  • #3
    [Deleted User]
    Posts: 16,720 ✭✭✭✭ [Deleted User]


    Iontach wrote: »
    I messed up big time last year, and I'd love another shot at it because I'm certain I'd cop myself on and get down to it. Even if I scrape past my repeat exams, I think I'd be at quite a disadvantage next year as I'd be lacking the foundations.

    Trouble is, I can't really afford to pay €5000 or however much it costs for the year. Would I be able to take out a loan and pay it back later or anything?

    A lot of colleges have a system in place whereby you can repeat the year 'off books' which means that you'd be repeating the year but wouldn't be going to any of the lectures (officially!). You'd only have to pay for the cost of the exams (which'd be a few hundred euro). I've no idea what the situation is where you're studying since it depends on the college, but it's worth looking into.


  • #4
    Iontach
    Closed Accounts Posts: 24 ✭Iontach


    Sounds interesting... I'm at NUI Galway btw


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