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Student Loans

  • 22-07-2011 3:32pm
    #1
    bscm
    Registered Users, Registered Users 2 Posts: 1,101 ✭✭✭


    Just checked through this forum but couldn't find any recent thread on this particular subject.

    I'm about to start college but I need finance to pay travel, registration fee, books etc. I don't qualify for any grant despite the fact that there's only one income in my family and I live 48km from the college I want to go to.

    Throughout school, our PACE teacher kept going on about 'student loans', and how they are paid off once you enter full time employment or when you can afford to pay them off.

    I can't find any sort of 'student loan' like this, all of them expect monthly repayments which I can't afford at the moment since I can't find a part-time job in my area.

    Are there any sort of loans out there like the 'student loan' I was told about?


Comments

  • #2
    Perplexed22
    Closed Accounts Posts: 60 ✭✭Perplexed22


    I think that your teacher is referring to the student loan system that operates in England. The only similar facility I've heard of here is one offered by the banks to students on graduate medicine courses (and I gather even that is difficult to get now). Maybe your local credit union could help? They have special student loan offers.


  • #3
    bscm
    Registered Users, Registered Users 2 Posts: 1,101 ✭✭✭bscm


    thanks, we always knew our teacher was a bit batty but we were all hoping she was right.

    It's near impossible to get any employment in my area so monthly repayments are as bad as surviving without the loan :(

    might try the Credit Union then, if not there's always selling my soul on Adverts :)


  • #4
    J_E
    Closed Accounts Posts: 5,734 ✭✭✭J_E


    I was confused with this too. The only bank I looked that, that even mentioned deferring a loan was a 9 month 'travel loan' from Bank Of Ireland. I'm going to have to pay a lot initially and my parents can't afford the costs so I have to resort to a loan, and I was really hoping there would be some facility where I could take out a large loan and pay it after my 4 year course. Unfortunately, I can't seem to find this. I'm really worried about having to make repayments for the get go because it means I will be forced to look for a job and will have to have a rather tight budget for the entire year.

    If such a loan exists in Ireland, it would make everything a lot less stressful for me.


  • #5
    Superwhy
    Closed Accounts Posts: 86 ✭✭Superwhy


    I needed a loan two years ago for college but I didn't want one either because I didn't know how I was going to pay it back, so Ulster Bank opened a student account for me and gave me a €650 overdraft with it. I just used the overdraft as my loan technically and it didn't need to be paid back straight away. But €650 was the max amount I could get.

    I don't know if that helps at all?


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