Student Loans

stephen090

Do any of the banks offer student loans with a deferred payment option until after graduation (or 2+ years) . I see a lot of them seem to just expect payment to occur straight away- monthly.. but realistically I'm not going to have any income for the year to make that possible.
Or are there any bodies similar to the student loan company in the UK, that offer this type of loan?
I dont think I'm eligible for a grant unfortunately..(because of my parents income.. even though they're retired ) and although my parents would provide me with a weekly 'allowance' if necessary.. I dont want to be a sponge. And I'd also like the freedom of having a 'mad' week and then budgeting the next week.. or treating my girlfriend to dinner occasionally etc etc.

(Im with Bank of Ireland.)

Thanks I would appreciate any advice at all.

VALIS

Bank of Ireland offer the option of deferring by up to 3 months which might be a fair comprise.

bscm

there isn't any deferred loan option for students aside from a nine month travel loan

went looking a few weeks ago and was told here (and in the bank) that deferred payment loans only exist in the UK and the US

stephen090

bscm wrote: »

there isn't any deferred loan option for students aside from a nine month travel loan

went looking a few weeks ago and was told here (and in the bank) that deferred payment loans only exist in the UK and the US

Thanks man It seems like something that should be brought into existance.. or something like the student loan company in the UK.. Its not fair or feasible for all parents to put their children through college.. and not everyone can obviously get a grant.. or one that covers their entire college life expenses.

Sulu

bscm wrote: »

there isn't any deferred loan option for students aside from a nine month travel loan

went looking a few weeks ago and was told here (and in the bank) that deferred payment loans only exist in the UK and the US

I am in the same situation as you, trying to finance college this year. Yes the banks and the credit unions expect you to start paying off your student loan within a few months. How is this fair and how is it a student loan? We do not have a loan system in Ireland because the students unions throw up a hissy fit everytime it is mentioned. They represent a proportion of students who expect to get everything for free and themselves, eternal students who sit on their arses in the SU, giving out and getting paid for it (probably) representing cliques in the college of the cool gangs (sorry but in my experience, its true!!!) and ignoring a proportion of students who are reduced to going to the banks and to their parents with begging bowls. I am currently waiting to see if I will be eligible for a grant this year due to changes in my criteria, but have tried getting a loan, but with the same problem as you, they either don't want to give it, or expect it to be paid straight away. Its a complete and utter nightmare. Welcome to the land of inbetweeners. Who don't get anything from anyone.

ethernet

I recently applied for a BoI student loan and, although the repayment options on the form afforded a maximum of three months to begin repayments, I asked to defer it by just over a year when I hope to be in full-time employment. They were honestly very helpful and this flexibility makes things a lot easier. It's worth asking about a longer deferral at least. The worst they can say is 'no'. All the best