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Student loan...worth it?

  • 19-02-2012 5:48pm
    #1
    Registered Users, Registered Users 2 Posts: 45


    well hello, i'm in first year college and just wondering what is the story with student loans? can u defer payment straight away till your finished college? and if u do that do they cripple with interest. I understand some interest will be added but how much? and what kind of income would i need to get a loan? and are the banks still giving student loans these days? the loan is actually to trade up my car to a diesel to lower fuel costs. would only be looking for 3000 maby less. Anyone with any info about these loans let me know. thanks


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  • Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    well hello, i'm in first year college and just wondering what is the story with student loans? can u defer payment straight away till your finished college? and if u do that do they cripple with interest. I understand some interest will be added but how much? and what kind of income would i need to get a loan? and are the banks still giving student loans these days? the loan is actually to trade up my car to a diesel to lower fuel costs. would only be looking for 3000 maby less. Anyone with any info about these loans let me know. thanks

    No bank allows deferred payments till you finish college. Some banks do student loans which offer interest free payments if paid back by a certain date. I got one in my final year and no payment was due for 9 months and no interest charged. Suited me perfect. But no bank does this for first years to defer till after college is done. Too much risk in it for them. Students generally prioritise socialising over loans and credit cards when money is tight.


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