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Interest only Student loans

  • 15-10-2019 8:58pm
    #1
    Big Wex fan
    Registered Users Posts: 351 ✭✭


    Do credit unions do interest only student loans?
    I'll have 2 in college next year & trying to figure out how to pay for it.
    My eldest hoping to do masters next year which is nearly 8 grand a year for 2 years. Thinking maybe borrow the money & pay interest only until starts work.
    I don't see anything about it on web searches. Hate to burden him with loan but PAYE employee so can't do the self employed thing and cook books to get susi grants.


Comments

  • #2
    FutureTeashock
    Banned (with Prison Access) Posts: 439 ✭✭FutureTeashock


    Big Wex fan wrote: »
    Do credit unions do interest only student loans?
    I'll have 2 in college next year & trying to figure out how to pay for it.
    My eldest hoping to do masters next year which is nearly 8 grand a year for 2 years. Thinking maybe borrow the money & pay interest only until starts work.
    I don't see anything about it on web searches. Hate to burden him with loan but PAYE employee so can't do the self employed thing and cook books to get susi grants.


    From reading this, you could take out a big loan over a long period with lower repayments and then repay it early without penalty. No interest only option that I can see.



    https://www.creditunion.ie/what-we-offer/loans/student/


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