GEM and Government Support

What is needed is some sort of loan that can be paid back when we graduate, independent of guarantors. I'm going for graduate veterinary. 80,000 and no hope of a loan for it all.

I'm pretty sure the question has been asked numerous times to Simon Harris and he brushes if off and says that he doesn't decide the fees. I also saw on linkedin that there was a trinity student who got a meeting with Simon Harris recently about it but I don't think that went anywhere either.

It really should be a government loan, like I managed to qualify for it but my repayments are going to be 800 euro a month which is a lot on an intern salary so I know people says its affordable as a doctor but it still delays getting a mortgage etc which is something a lot of GEM's might want to do as they are older. My friend is heading to Liverpool this year to do grad med, she got into derry too but picked Liverpool. It was her only option because of the loan here unfortunately. Like it sucks for the people with massive loans but sucks even more for people who don't even get the chance to get the loan.

arkeda wrote: »

As a side question, I wonder if you pay the first year or two out of pocket would the bank cover the remaining years? I.e. have more leniency.

I have also been rejected for the GEM loan on the basis of my guarantor (contacted RCSI and UL's campus banks).

A friend of mine was told that could be an option as each year she paid it would mean her guarantor could earn less but they wouldn't tell her for sure. They said she'll just have reapply the following year and hope for the best.

si1234 wrote: »

The UK have Government loans I believe, does anyone know?

Its next to impossible to get a loan for that amount, and I'm not sure about Veterinary, but the health system is already crying out for more Doctors. Once we graduate we are guaranteed of jobs!

The UK has the 'student finance england' system. You basically get a loan thats paid back after graduation at FAR LOWER levels than in Ireland. Its a % of your salary and is deducted at source - meaning if for any reason you cant work (eg illness), you stop payments until working again. In Ireland I understand the payments are very high. Its a far fairer system than in Ireland where you basically need rich parents. Ireland was so disparate for doctors last year they were having people fly back from Oz - yet so many are turned away for financial reasons. Its ridiculous. Im studying in the UK now as I couldnt afford to study in Ireland despite having high enough gamsat marks to study in any university in Ireland.

si1234 wrote: »

Yes the banks said it may be possible your guarantors have enough income to cover the last 2 years fees.

I reached out to local TDs and Senators and Bank of Ireland have agreed to look again at my application so fingers crossed! I don't know how realistic this is but at least its something.

Could you expand a bit more on that? Did the local TDs collectively petition the bank to review your loan application?

I'm going to go ahead and pay for the two years out of pocket. I am worried about the final two years as my only potential for a familial guarantor are my pensioner grandparents. In that instance I may also reach out to my local TDs.

I hope all works out for you.