Fine Gael Senator Deirdre Clune is today (Wednesday) welcoming a new loan scheme which has been introduced to help UCC students fund the cost of their education. The Bank of Ireland loan is available for undergraduate students. Parents or guardians of undergraduate students can apply for the loan over a period of up to eight years.
“It is essential that students are given the necessary help to pay the yearly €2,250 contribution charge which is out of reach for many people who wish to progress to study for a third level qualification.
“This new low-rate loan will allow the person paying to spread out the cost of the charge with payments of €100 per month for duration of the student’s education within UCC. The interest rate is 5.1% APR and this loan is available to cover the full cost of the Student Contribution Charge.
“The Leaving Cert results and CAO offers are out shortly and this loan will be able to aid prospective students in financial planning for the year ahead.
“This scheme will hopefully encourage people to attend UCC which will increase their employability, earning potential and skills.
“It could also help people return to education who wish to up skill or make a career change.
“Providing this kind of financial support for the next generation of workers is a positive step which all parties involved can benefit from.
“I hope to see more banks and universities across Ireland introduce similar schemes to lessen the burden of education costs on students and their families.”Follow TheCork.ie (The Online Newspaper for Cork, Ireland) on social media