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Student loans

  • 21-10-2001 5:57pm
    #1
    Bosco
    Closed Accounts Posts: 219 ✭✭


    Hi folks,

    Looking for people who have gotten student loans recenty...

    What were the bank people like when you asked them for loads of money? Do they give you money for any purpose?
    Is there a maximum you can borrow?
    Can you pay it all off in a lump sum and if so are there any penalties? (silly question?)
    Do you have to be on a grant?
    Do they try to talk you out of it if you want the money for something insane? :)
    Is any bank better than any other at the moment for student loan terms or rates?

    Thanks for reading down this far,

    Bosco


Comments

  • #2
    OSiriS
    Registered Users, Registered Users 2 Posts: 1,657 ✭✭✭OSiriS


    A few years ago I took out a loan, and told them up front that it was for a computer, rent and living expenses. I didn't get a great reaction, but I still got the loan no problem, and they even allowed me to take it without paying much back for a year. They only asked that I pay back £25 every 2 months until my proper payments began.

    One thing I will add ... The only other loan I ever intend taking out is a mortgage. Having a college loan left me completely broke for 2 years, and it is an experience I would rather not repeat. So my advice would be to only take one out if you are certain you REALLY need it.


  • #3
    Lump
    Registered Users, Registered Users 2 Posts: 10,984 ✭✭✭✭Lump


    LOL, I got a credit card with a 300 pound limit on it and all of a sudden Im in £450 debt, HOW I dont know...... so I wrote an Iriate letter to the bank :(


    John


  • #4
    Das Kitty
    Moderators, Arts Moderators Posts: 17,231 Mod ✭✭✭✭Das Kitty


    I got a loan at the start of the year to keep me away from a job in my final year.

    I went to the Bank of Ireland whom I have been with since first year. They ask you what course you're studying (they'll like you more if you're doing a course that will guarantee some sort of job at the end). Then they ask you how much you need. Then they give you an indemnity form you have to get a parent or guardian to bring to their bank and get stamped. Then you fill in a form for your bank and bring all forms back. Then you wait a day or so until they make their decision. I got three and a half grand fairly easily. However if you are going back to college next year they require you to have the loan paid off in full by the end of September.

    Hope that this helps.


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