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GEM loans for 2015

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  • 15-04-2015 8:59pm
    #1
    anxiousGEM
    Registered Users Posts: 1 ✭


    Hi Guys,

    There is some great info here so I thought this would be the ideal platform to get a answer. I sat the GAMSAT in the UK in 2014 and got a 59. this, i assume should be sufficient for me to study in Dublin. I gave close to 35K saved up for GEM which I am planning to use to pay my first two years. My issue is after the first two years I will be broke. will the banks give me a loan for the final 2 years or is the deal only a 4 year deal? If so, would I be best taking ~7k a year of a loan? However by doing this I feel that I am paying more interest than I will need to. I have been browsing most threads and apart for UL I cant find any information on loans available to 3rd or 4th year students. Thanks guys.


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    #2
    letsdothis
    Registered Users Posts: 230 ✭✭letsdothis


    Yes, you can take it just for 3rd and 4th year with Bank of Ireland. They restructured the system last year so that it's now 4 separare €15k loans rather than one for 60k. So you can apply for whichever years you need. Obviously there's no guarantee of getting the loan for any year.


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    #3
    beardedmaster
    Registered Users Posts: 614 ✭✭✭beardedmaster


    Do you have to take the full €15k?


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    #4
    letsdothis
    Registered Users Posts: 230 ✭✭letsdothis


    beardedmaster wrote: »
    Do you have to take the full €15k?

    I don't think so. Makes sense for OP to take two later 15ks than 4 7ks tho because you are liable 7% interest from whenever you get the cash


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    #5
    gaffer93
    Registered Users Posts: 29 ✭gaffer93


    I was absolutely shocked to discover that even if you get a loan off BOI for RCSI you still have to pay another 2000 of your own money on top of that...how is it possible to have any money for living then?


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