Student loan

Whether you’re an undergraduate or postgraduate, get a student loan tailored to you.

 
 

Why choose us for a student loan?

Competitive rates

Variable rates from as little as 5.0% APR1 for undergraduates and 5.6% APR for postgraduates.

Tailored to you

Borrow between €500 and €5,000 for undergraduates and up to €10,000 for postgraduates.

Option to defer repayments2

Option to defer your first 3 monthly repayments for undergraduates and your first 12 monthly repayments for postgraduates.

Flexible repayments

Make extra repayments to pay off your variable rate loan early and pay less interest with no penalty fees.

Choose your term

Repay your loan over a term of 1 to 5 years.

Fast application

Online application takes just 15 minutes for existing current account holders registered for 365 online.


What do I need to apply?

To be eligible to apply online, you must be:

  • Aged 18 or over

  • Resident in the Republic of Ireland
  • An existing Bank of Ireland 3rd level current account customer.

Undergraduate

You must be completing a full-time course in the Republic of Ireland at a CAO approved 3rd level college.

Postgraduate

You must be undertaking a one-year, full-time postgraduate course in the Republic of Ireland.

To apply, you’ll need:

  • Your 365 online user ID – This can be found on your profile page within the mobile app.
  • Proof of your Personal Public Service Number (PPSN) – Full list of acceptable documents.
  • Proof of your student status – You must upload a copy of your student ID card or communication from the CAO (or a CAO-approved institution), confirming your acceptance onto a course.

Please note: We may request additional documents depending on your individual circumstances and loan purpose. We request a credit report from the Central Credit Register when you apply for a loan of €500 or more. Lending criteria, terms and conditions apply. If you’re a full-time undergraduate or postgraduate student, you can only apply for a student loan.

 
Apply for a student loan



Undergraduate or postgraduate?

The terms undergraduate and postgraduate refer to different levels of education. The type of student you are will affect the type of student loan to can apply for.

Undergraduate:

  • This is the initial level of university education
  • Recognised as level 7 or level 8 by Quality & Qualifications Ireland (QQI) under the National Framework of Qualifications (NFQ)
  • An undergraduate program leads to a bachelor’s degree like a BA, BSc or BComm
  • Typically lasts for 3 to 4 years depending on the course of study.

Postgraduate:

  • This is the level of education that comes after completing an undergraduate degree
  • Recognised as level 9 by Quality & Qualifications Ireland (QQI) under the National Framework of Qualifications (NFQ)
  • A postgraduate program leads to a master’s degree like an MSC or MBA
  • Postgraduate loan must be repaid monthly.


Interest rates and APR

These representative examples illustrate how much it could cost to borrow various amounts over 5 years.

Undergraduate loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€500 – €5,0004.95%5.0%€2,0005 years€37.68€260.80€2,260.80

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.

Postgraduate loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€500 – €10,0005.5%5.6%€2,0005 years€38.18€290.80€2,290.80
€500 – €10,0005.5%5.6%€8,0005 years€157.72€1,163.20€9,163.20

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.



Frequently asked questions


  • What is a student loan?

    A student loan is when an amount of money is given to you by a financial institution which you can use to help pay for third level education and the associated fees such as tuition, books, supplies, and living expenses. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

  • Am I eligible for a student loan?

    If you are aged 18 or over, live in the Republic of Ireland, hold a Bank of Ireland 3rd level student personal current account , and are currently doing a full-time course in a recognised 3rd level college in the Republic of Ireland, you may be able to apply for a student loan.

  • Do I have to repay my undergraduate loan while I am studying?

    There is an option to defer making your first repayment by 3 months2 if you choose to repay your loan monthly. To avail of this offer, you must select it during the application process.

  • What is a postgraduate loan?

    A postgraduate loan is when an amount of money is given to you by a financial institution which you can use to help pay for the fees associated with undertaking a full-time postgraduate course. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

  • Am I eligible for a postgraduate loan?

    You can apply for a postgraduate loan if you:

    • are aged 18 or over
    • are undertaking a 1-year full-time postgraduate course in the Republic of Ireland
    • hold a Bank of Ireland 3rd level student personal current account

    Lending criteria, terms and conditions apply.

    Please note: A postgraduate loan is designed to cover the fees associated with undertaking a full-time postgraduate course.

  • Do I have to repay my postgraduate loan while I am studying?

    There is an option to defer making your first repayment by 12 months2 if you are repaying your loan monthly. This 12-month period begins once the loan is drawn down.

    Interest will be charged on your loan from the date of your first draw down and continue to be added to your loan balance on a quarterly basis.

    By deferring your repayments for 12 months, you will pay more interest over the term of your loan than if you had started repayments at the beginning.


See our full loan FAQs

Warning: 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, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future
Warning: The cost of your monthly repayments may increase.

Contact us

Our loan teams are here to help.

Log in to 365 online, select Services and Send us a message.

Call us on 0818 200 334, 9am–5pm, Monday to Friday.

Tweet us @talktoBOI 8am–8pm. Response within 15 minutes.

Visit your nearest branch to arrange a meeting with a dedicated lending advisor.

1 APR stands for Annual Percentage Rate.
2 Deferred repayments: By deferring your repayments at the start of your agreement you will pay more interest over the loan term than if you started to make repayments from the start. Deferred repayments are available to Bank of Ireland current account customers only.