Bank of Ireland Student Travel Loan ( Interest Free for 12 months )

SD1990

Is this as easy as people are claiming it is to get on campus in UCC?

My friends claims he walked in there today and got a 1000 euro loan without producing a bank statement ? ( said he had no bank account ?! ) and didnt even have to guarantee the loan with anything and doesnt have to pay a penney until next year ?

PhatPiggins

If his ID had his address on it then that would be enough. They are remarkably lax in the rules for student loans.

Student debt doesn't affect your credit rating, should you,ahem, forget to repay it.

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PhatPiggins wrote: »

If his ID had his address on it then that would be enough. They are remarkably lax in the rules for student loans.

Student debt doesn't affect your credit rating, should you,ahem, forget to repay it.

Oh yeah...? Interesting

I got that loan (a €500) one and it was really easy to get, they practically threw it at me. Mind you now, that was back in the halcyon days of February 2008. Went in again recently to get the grant advance overdraft which I'd also gotten before about a year and a half ago-again, similar story, 900 euro, no problems, close enough to no questions asked. This time they were all "Ahm...yeah we kind of need to see some, y'know, paperwork and stuff before we give you hundreds of euro?" But then I just needed a letter from the council saying I was getting a grant, which you just ring up for.

So basically yeah, they're very easy to get, in my experience anyway

Faith

There's a difference between the travel loan and the ordinary student loan. I asked about the travel loan last summer and was told you have to have proof of travel - like your J1 documents or whatever. The normal loan is grand though. I got €1000 last June and pay back €20.25 a week, so it cost me €53 overall.

SD1990

If his ID had his address on it then that would be enough. They are remarkably lax in the rules for student loans.

Student debt doesn't affect your credit rating, should you,ahem, forget to repay it.

:eek: nice! i did not know that !


Went in to the bank today to give it a try and had no luck. Although i was severly chancing my arm with absolute lies.. Going to try and get it properly tomorrow with the neccessary stuff.. statements etc.

samf

I got a grant advance loan, easy to get if you've a letter confirming you got the grant, took about a week to process and its basically an interest free overdraft up to the amount of the loan. Handy if you're still waiting on the grant.

ste121212

does any one know what the story is about getting a normal student loan?? how much you can get and what the requirements are? etc

Dave47

Wait these are interest free? Can I get a huge student loan so and invest it?

Faith

Dave47 wrote: »

Wait these are interest free? Can I get a huge student loan so and invest it?

The travel loan is interest free, but you need to provide proof of travel, such as airplane tickets, your J1 stuff etc. You couldn't invest it because then presumably you wouldn't be able to afford traveling.

The ordinary student loan is not interest free, but the interest is fairly low. On a €1000 loan, I paid €60 in interest over a year.

Dave47

Hmm thats pretty low. Il probably travel and use the loan for that.