We are too aware of the ongoing and rising cost of a College education – the past academic year has seen student rents in Dublin rise by as much as 27% warranting protests and ‘sleepouts’ by Student Unions. Dublin City University, popular with many Donegal students, due to accessibility prompted by their President have lobbied Government to review this as they fear that it will lead to a barrier for lower income families. As your student prepares for Leaving Certificate, CAO acceptance, Accommodation searching, let Donegal Town Credit Union ease the burden with helping to secure funds to assist your student as they progress through Third Level.
School’s out – time for college! 1st thing needed for a loan is a letter of offer from your College and a willing parent who will act as Guarantor.
Time, loans for Students are available Monday to Friday, 11:00am-16:00pm and 10:00am-15:00pm on Saturday’s. Appointments are reserved with Saturday being the most popular day as Parents who act as Guarantors on the loan are more available that day, so book early!
Utilise our online “CU247 App” to make weekly, fortnightly, monthly repayments. Alternatively, we also do Direct Debits, Standing Orders or Cash towards repayment.
Delivery of funds, we pay out loans on the day (subject to all correct details receipted), so that only one appointment is necessary!
Efficiency is our game – all required documents can be emailed prior to appointment to minimise time spent securing loan!
No fees for early repayment!
Terms, Student Loans Terms are flexible and are structured to suit student repayment capacity – this will be discussed at your Loans meeting.
Lower initial payments as you can choose to go ‘interest only’ for Year 1, and this will be fully reviewed by Credit Committee before commencing into Year 2 of College.
Only a phone call away – call 074-9721293 to speak with any of our Loans Officers to assist you.
Apr % rate on a Student Loan is 6.18% which equates to roughly €1.15/€1000 interest per week.
New loans for students are a great way to establish a credit record which will be necessary for securing mortgages etc further down the road.
Shares, if you think you need a Student Loan, you will need to have at least €50 in Student’s Share account to secure a loan.
Quote for Student Loan
For a €3,000, 4- year variable rate loan with an interest rate of 6%(APR), an annual percentage rate of 6.18%, the weekly repayment will be €16.23 and the total amount repayable will be €3,374.50.
Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future
€€€Money fact of the week€€€; Americans currently owe about €875bn in student loans!