Bank of Ireland has launched a new Postgraduate loan initiative. The new loan will cover the full cost of course fees, less any grant received towards fees. It will be paid directly to the College or Institute, allows significantly reduced payments while studying, and is in the student's own name.
Repayments will be interest-only for the period of study and an additional 3 months thereafter, at which point repayments will be capital and interest at 10.8% APR variable.
The repayment period can be up to 5 years, depending on what best suits the student.
In addition, a maintenance loan of up to €2,000 is available to those students who have previously received a maintenance grant as an undergraduate. The maintenance loan will be paid directly to the student.