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Dole - loan

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  • 14-01-2011 7:49pm
    #1
    Worried Soul
    Registered Users Posts: 19 ✭


    HI there... I'm not sure if im in the right thread here ... but Im wondering if anyone could help me. I'm looking to start a course in February and i need a loan of €8,000. Im currently on the dole .. is it possible for me to get a loan when I;m unemployed and have been for the past year :(


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    #2
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    Yes it is possible. You would almost definitely need a guarantor, as presuming that you are on means tested welfare (?) you do not have strong assets?.

    Are you talking about a rolling loan with repayment delayed until after graduation?


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    #3
    Amhran Nua
    Closed Accounts Posts: 4,124 ✭✭✭Amhran Nua


    I'd be pretty surprised if you could get a loan, although it's not much money. Have you any collateral, anyone willing to go guarantor for you, anything like that, and have you looked into the potential for the various avenues of state support, any dependents, anything like that? Probably a better place to ask would be the student finances or state benefits forum, can't find that one now.

    Don't be too concerned, where there's a will there's a way.


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    #4
    Worried Soul
    Registered Users Posts: 19 ✭Worried Soul


    Well yea.. I am hoping to get a place on a teacher training course.. but as you are aware jobs not plentiful in that either... any chance of it


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    #5
    cee_jay
    Moderators, Business & Finance Moderators Posts: 7,920 Mod ✭✭✭✭cee_jay


    I will move your thread to Banking forum - you may get more advise there.


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    #6
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    cee_jay wrote: »
    I will move your thread to Banking forum - you may get more advise there.
    It may be possible to get a student loan alright but you may need a guarantor as well, ask all the main banks. Have you thought about the credit union.


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    #7
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Worried Soul wrote: »
    HI there... I'm not sure if im in the right thread here ... but Im wondering if anyone could help me. I'm looking to start a course in February and i need a loan of €8,000. Im currently on the dole .. is it possible for me to get a loan when I;m unemployed and have been for the past year :(

    No. Most banks lending polices would state being unemployed as a no for a loan. You've no capacity to repay the loan and the benefit you get if any from social is not meant to be used to service back a loan. So in the eyes of a lending policy you have no income.

    If you are a full time 3rd level student it may be possible but not in the area of 8k without a suitable person to go on the loan with you.


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    #8
    Worried Soul
    Registered Users Posts: 19 ✭Worried Soul


    Do you have to have an account at the credit union to get a loan? I am gonna try them at lunch now and see what they say.. thanks


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    #9
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Worried Soul wrote: »
    Do you have to have an account at the credit union to get a loan? I am gonna try them at lunch now and see what they say.. thanks

    Yes and some savings(Shares) and normally a member for a set period of time, like a year. T&C's vary from one to another.


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