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I need an 11k student loan!

  • 17-07-2011 10:26PM
    #1
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭


    I just found out that i am liable to pay tuition fees for my first year in college, which are 7000 and then of course registration fee, books, accommodation etc.
    Anyway i need 11K and was planning to ask credit union, is there any chance they will give it to me? I dont wanna go in there and be laughed out of the place :( I can have my parents as guarantor if they want and my parents have a very good reputation with the credit union.

    Im on Back to education allowance and will be able to pay back 200 a month no problem. Can anyone give me some advice on what to do about getting a student loan? Please help, If i dont get a loan i dont think ill be able to go to college. Thanks for reading.


Comments

  • #2
    dlofnep
    Closed Accounts Posts: 20,759 ✭✭✭✭dlofnep


    Why are the fees so high?


  • #3
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    dlofnep wrote: »
    Why are the fees so high?

    I dont know? Thats what they told me


  • #4
    dlofnep
    Closed Accounts Posts: 20,759 ✭✭✭✭dlofnep


    knifeyspoony wrote: »
    I dont know? Thats what they told me

    Is it in Ireland? I really feel for you for having fees so high! Which college is it do you mind me asking?

    Regarding the loan - it's not as if they haven't come across this before. I think your best bet is to just pop in there and ask them. Although, in my experience - traditional loans from the local credit union in my area have been getting tougher to obtain.


  • #5
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    dlofnep wrote: »
    Is it in Ireland? I really feel for you for having fees so high! Which college is it do you mind me asking?

    Regarding the loan - it's not as if they haven't come across this before. I think your best bet is to just pop in there and ask them. Although, in my experience - traditional loans from the local credit union in my area have been getting tougher to obtain.

    Yeah the college is in Ireland. Ill call into them to ask. I really hope they will give me a chance :(


  • #6
    dlofnep
    Closed Accounts Posts: 20,759 ✭✭✭✭dlofnep


    knifeyspoony wrote: »
    Yeah the college is in Ireland. Ill call into them to ask. I really hope they will give me a chance :(

    Go in, be confident. Don't be afraid. Many people have to ask for student loans at some point. They won't laugh at you. Worst case scenario is they reject your request.

    The problem is - if it's 7000 for your first year alone, they are going to ask you how you will fund your subsequent years.


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  • #7
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    dlofnep wrote: »
    Go in, be confident. Don't be afraid. Many people have to ask for student loans at some point. They won't laugh at you. Worst case scenario is they reject your request.

    The problem is - if it's 7000 for your first year alone, they are going to ask you how you will fund your subsequent years.


    I wont have to pay tuition fees for next year because im only liable to pay first years tuition fees. Has anyone ever asked for a student loan this high?


  • #8
    dlofnep
    Closed Accounts Posts: 20,759 ✭✭✭✭dlofnep


    knifeyspoony wrote: »
    I wont have to pay tuition fees for next year because im only liable to pay first years tuition fees. Has anyone ever asked for a student loan this high?

    Ah right - you should be fine then. Yes of course - some people would have taken out a loan for 4 years which would probably run even higher than that.


  • #9
    scooby2791
    Registered Users, Registered Users 2 Posts: 226 ✭✭scooby2791


    Surely if your receiving a Back to Education allowance you can apply for a back to education grant. Once your over 24 you fall into the mature student category and fee's would be paid for in full by the government.


  • #10
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    scooby2791 wrote: »
    Surely if your receiving a Back to Education allowance you can apply for a back to education grant. Once your over 24 you fall into the mature student category and fee's would be paid for in full by the government.

    im not over 24 and no i dont qualify for the grant.


  • #11
    dlofnep
    Closed Accounts Posts: 20,759 ✭✭✭✭dlofnep


    knifeyspoony wrote: »
    im not over 24 and no i dont qualify for the grant.

    Correct. My little brother also got BTEA but didn't get the grant either.


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  • #12
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    dlofnep wrote: »
    Correct. My little brother also got BTEA but didn't get the grant either.

    yeah it sucks :(


  • #13
    angeldelight
    Registered Users, Registered Users 2 Posts: 5,175 ✭✭✭angeldelight


    I'd say having your parents as guarantor on your loan would be a big help - I got a loan from the CU just after finishing college for 15k, and once my dad signed as a guarantor (he would have good history with CU also) there was no problem. Fingers crossed!


  • #14
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    angeldelight wrote: »
    I'd say having your parents as guarantor on your loan would be a big help - I got a loan from the CU just after finishing college for 15k, and once my dad signed as a guarantor (he would have good history with CU also) there was no problem. Fingers crossed!

    This gives me some hope! thanks!


  • #15
    knifeyspoony
    Closed Accounts Posts: 64 ✭✭knifeyspoony


    angeldelight wrote: »
    I'd say having your parents as guarantor on your loan would be a big help - I got a loan from the CU just after finishing college for 15k, and once my dad signed as a guarantor (he would have good history with CU also) there was no problem. Fingers crossed!


    Can you give me any advice on how to get the loan? should i have a lot of money in my account? etc?


  • #16
    TouchingVirus
    Registered Users, Registered Users 2 Posts: 8,582 ✭✭✭TouchingVirus


    scooby2791 wrote: »
    Surely if your receiving a Back to Education allowance you can apply for a back to education grant. Once your over 24 you fall into the mature student category and fee's would be paid for in full by the government.

    Free tuition fees only comes into play the first time you do a specific year of 3rd level course unless the person is a "second chance" student - one who didn't complete their previous course and who quit that course 5 or more years ago. If you're a second chance student then tuition is covered.

    Since 2010 people who have a BTE allowance are no longer entitled to support grants. This doesn't mean they won't get any assistance if required (e.g. student assistance fund) and they should still apply to their local council because they could be entitled to a refund of student service charges (roughly €1500).

    Credit unions usually only allow members to borrow multiples of their current savings/shares (e.g €1000 in account, max loan €2000, €3000 or €4000 depending on the multiple your CU operates and other factors like credit history, guarantors etc)


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