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Need a Loan to Study Abroad!

  • 19-09-2008 6:33pm
    #1
    NFH
    Registered Users, Registered Users 2 Posts: 293 ✭✭


    I'm thinking of going to Hungary to study for 5 years. The course itself will cost around €11,000 a year and then you will have living expenses on top of that for the 5 years. What kind of loan options are out there. Is there a way of getting the loan and then repaying it once I start work. I'm with Bank of Ireland right now. Any ideas would be great.


Comments

  • #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    NFH wrote: »
    I'm thinking of going to Hungary to study for 5 years. The course itself will cost around €11,000 a year and then you will have living expenses on top of that for the 5 years. What kind of loan options are out there. Is there a way of getting the loan and then repaying it once I start work. I'm with Bank of Ireland right now. Any ideas would be great.

    We need more details......

    How much are you actually looking for?

    Are your parents able to guarentree the loan?

    Postpone the loan for 5 years? No chance if you are thinking it is.


  • #3
    NFH
    Registered Users, Registered Users 2 Posts: 293 ✭✭NFH


    Well I would need to cover the fees which would be appox €60,000 and then livin expenses, so lets say around €80,000. Yes my parents would be able to back the loan and the course would start next september.


  • #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    I'm afraid this is a non runner.

    The only way around this (as far as I can see) is perhaps if your parents borrow the money for you by doing an equity release in their home. Of course your parents would have to have the capacity to meet the increased borrowings. There also maybe tax implications etc.


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