College finance Loan

Bank of Ireland College Finance is designed to provide a cost effective and simple payment solution for parents to fund the cost of their child’s undergraduate Student Contribution Charges.

Features & Benefits

With the college finance loan you get:

  • Competitive variable rate of just 7.5% APR.

  • Option to borrow €3,000 each year to cover the Student Contribution charge (available to cover fees over a 4 year undergraduate term).

  • Customers may opt for a shorter repayment period at any stage but cannot choose to repay over a longer term.

  • Candidates must be parents/guardians of full time undergraduate students of applicable colleges.

  • Applicants must be resident in Ireland.

  • A new loan application is required every year.

  • This loan cannot be used to fund fees for the student to re-sit an examination or fund postgraduate study. You cannot borrow an advance once the undergraduate period ends (for example, if the student drops out of college).

  • Maximum loan term is 8 years (i.e. final 3 years in college plus 5 years repayments post-graduation).

  • Parents can choose to repay the loan in year 1 over 24 months, year 2 over 36 months, year 3 over 48 months and year 4 over 60 months. In each case the term of the loan is from the year of the last draw-down.

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