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College Fees / Student Loans

  • 19-04-2020 5:56pm
    #1
    unicorn97
    Registered Users, Registered Users 2 Posts: 14 ✭


    Looking for some advice.

    I’m 23, I’ve finished a level 8 degree and want to further my education to improve my career path and future job opportunities. I currently work as a full time physiotherapy assistant and want to progress to become a physio myself. I’ve been invited to enroll in my dream course after a successful interview. The course is a 3 year level 8 course. The total cost over 3 years is €25k. Now most Irish banks only offer 5 year student loans, and can defer the first year of payments. Does anyone know if there’s any banks that do 7-10 year student loans or flexible loan options that allow for flexible repayments. I’ve done a lot of research into this and it seems like Ireland is way behind the UK with regards to how students pay their college loans. There’s an acceptance that we Irish people just have to look to our parents for assistance during our college years (something I cannot do as I only have 1 parent who is a widow looking after 7 kids). The UK allows for people to pay back their college fees after they’ve graduated by deducting amounts from their pay when they’re more able to actually pay these large monthly sums of money. In my case, the only option I see is deferring the first year of repayments and paying €550 a month in loan fees for 4 years (2 years I’ll be in college) while only working weekends part time.
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  • #2
    DeeAvery
    Registered Users, Registered Users 2 Posts: 127 ✭✭DeeAvery


    unicorn97 wrote: »
    Looking for some advice.

    I’m 23, I’ve finished a level 8 degree and want to further my education to improve my career path and future job opportunities. I currently work as a full time physiotherapy assistant and want to progress to become a physio myself. I’ve been invited to enroll in my dream course after a successful interview. The course is a 3 year level 8 course. The total cost over 3 years is €25k. Now most Irish banks only offer 5 year student loans, and can defer the first year of payments. Does anyone know if there’s any banks that do 7-10 year student loans or flexible loan options that allow for flexible repayments. I’ve done a lot of research into this and it seems like Ireland is way behind the UK with regards to how students pay their college loans. There’s an acceptance that we Irish people just have to look to our parents for assistance during our college years (something I cannot do as I only have 1 parent who is a widow looking after 7 kids). The UK allows for people to pay back their college fees after they’ve graduated by deducting amounts from their pay when they’re more able to actually pay these large monthly sums of money. In my case, the only option I see is deferring the first year of repayments and paying €550 a month in loan fees for 4 years (2 years I’ll be in college) while only working weekends part time.

    You should try your local credit union. Still not a proper student loan but the best loan option available in Ireland as far as I am aware. Then there is Springboard, which offers free degree courses and you don’t have to be unemployed. But, I find the courses offered by Springboard though are very limited. Otherwise, as you already have a degree there is not much else you can do. Unless you can get your employer to sponsor your education.

    If you can move, which admittedly wouldn't be an option for most people, but other countries have lower or no fees, as well as a lower living cost. You could also look to see if a postgrad route is an option, it doesn’t have to be an Masters, there could be conversion courses, higher diplomas or PG Certs/Diplomas that interest you. And Susi does provide support if you progress in level and meet means requirements etc. There are also postgrad funding options but that would be more the research side.

    There is the odd bursary, scholarship and the student assistance fund out there for a few hundred to thousands of euro but as you work and have a degree you probably won’t be eligible for most of them. Consider though after first year, as then your means might be lower, that you may become eligible for some financial supports then. Most students these days work and study at the same time, so ultimately that might be your only option. If you want to make it happen you have to do what it takes to make it happen.


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