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student loan!

  • 18-08-2012 11:52am
    #1
    flag123
    Registered Users, Registered Users 2 Posts: 374 ✭✭


    Hi all!

    Would anybody know the procedure for applying for a student loan and how long it would take?

    I'm working 2-4 days a week on a decent hourly wage :)
    Going into a post grad now in september.

    However, what are they looking for when applying for a student loan? If i go with AIB for example, would they need to see evidence of savings?

    Thanks a lot!
    :)


Comments

  • #2
    Annasopra
    Registered Users, Registered Users 2 Posts: 41,156 ✭✭✭✭Annasopra


    Bank of Ireland have a new scheme

    http://personalbanking.bankofireland.com/loans/postgraduate-finance-loan/

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



  • #3
    flag123
    Registered Users, Registered Users 2 Posts: 374 ✭✭flag123


    I've noticed that alright.

    However, the loan i'll be looking to get is for accommodation and maintenance costs for the year. Not for course fees.

    It states it will allow up to an extra 2000 euro for maintenance costs.

    I don't fully understand the loan scheme as it it'll pay the fees through a loan but doesn't help with living costs.


  • #4
    Clareh123
    Registered Users, Registered Users 2 Posts: 59 ✭✭Clareh123


    I wouldn't go near any of the banks for a student loan, the credit union is a safer bet because they will renegotiate the terms of your loan if you have difficulty paying it back, and it's cheaper for you if you pay it back early. I just signed a loan with them and I'll be paying back €10 per week. It's really easy to get credit- I just went in to the loans section and told them what I wanted, they asked a few questions, I got approval the next day and went in to sign with my mother as guarantor. Simple!


  • #5
    Dougal McGuire
    Registered Users, Registered Users 2 Posts: 35 ✭Dougal McGuire


    what type of questions would they ask clareh123? need to look into getting a loan myself


  • #6
    Clareh123
    Registered Users, Registered Users 2 Posts: 59 ✭✭Clareh123


    Yer man asked me for evidence I'm doing the course so I showed my acceptance letter. He also asked if I ever had a loan before and just had a look at my CU savings. Also if I have any other income or a grant for my fees, and if I would be paying rent, that kind of thing. I think they just want to see that you've worked out what you need (multiply how much extra you need per week and multiply it by the number of weeks in your academic term) and you know how you're going to pay it back. He even asked me was I sure it would be enough money and did I want a bit more! You'll also need a guarantor. After you sign they give you a free student pack with a really ugly laptop bag and some stationary :)


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