At AIB we are committed to helping both students and parents manage the cost of investing in education throughout the full college cycle. We have a range of options tailored specifically to help finance the Student Contribution Charge (registration fees) and other expenses.
AIB has designed a flexible payment solution for students to fund the Student Contribution Charge (registration fees) and other expenses. You can choose to make interest only repayments for the duration of your college course, so while you are in college you don't need to worry about making the full repayments on your loan. When you complete your course you start repaying the balance of your loan with capital and interest repayments.
|Year(s)||Drawdown||Balance||Interest Rate||APR||Minimum Monthly Repayment**|
|5-9||-||EUR12,000 reducing monthly||8.45%||8.73%||EUR245.67|
Note: This information is provided for illustrative purposes only. It does not constitute a contract. Rates charged on lendings are correct as at 08/07/2013.
Total cost of credit is EUR5,260.68. The total cost of credit and monthly repayment upon graduation is subject to the total amount borrowed, interest rates and term of loan.
Example assumes 3% discount applies in all years.
* Interest-only repayment options may appear cheaper in the short term but will be more expensive over the life of the loan.
If you have an AIB Student Plus Account, you can apply for a personal loan at a special discounted interest rate.
First and second year students can apply for an overdraft of up to EUR1,000 interest free, and third and fourth year students can apply for an overdraft of up to EUR1,500 interest free. This gives you peace of mind that additional funds are easily accessible if and when you need them ? for those unexpected costs that arise during your student years.
The Specialist Faculty Loan is available to full time third level students enrolled in one of a predetermined list of specialist courses in a selected number of colleges. Faculties that the Specialist Faculty Loan is available to include Medicine, Dentistry, Veterinary, Pharmacy, Psychology, Physiotherapy, Radiography, Law, Science, Mathematics, Architecture and Computing.
The maximum loan amount available is EUR10,000, which is interest free for a period of 5 years.
|Dublin City University||AIB Santry, Dublin 9||01 - 8426477|
|Dublin Institute of Technology||AIB Lower Baggot St, Dublin 2||01 - 6610188|
|NUI Galway||AIB Newcastle Road, Galway||091 - 524466|
|NUI Maynooth||AIB NUI Maynooth, Co Kildare||01 - 6285277|
|Royal College of Surgeons||AIB Lower Baggot St, Dublin 2||01 - 6610188|
|Trinity College Dublin||AIB Westmoreland St, Dublin 2||01 - 6799222|
|University College Cork||AIB College Road, Co Cork||021 - 4340340|
|University College Dublin||AIB UCD, Belfield, Dublin 4||01 - 2694499|
|University of Limerick||AIB Castletroy, Limerick||061 - 334266|
Contact our Student Centre on 1890 788 336 or one of the campus branches listed above to see if your course is eligible.
As an AIB Student Plus Account holder, you can apply for an AIB Student MasterCard (applicants need to have held a bank account for a minimum of 6 months). A convenient way to shop online and pay for day to day expenses, it allows you to pay for a student lifestyle on a schedule that fits your budget.
Government Stamp Duty of EUR30 is charged annually per credit card account.
For All Credit Products
Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status, and are not available to persons under 18 years of age. Security may be required.
For Student Loan Products
A typical EUR1,500 one year loan to students will have monthly repayments of EUR131.83, Interest Rate 9.95%, APR 10.33%. If the APR does not vary during the term of the loan the total cost of credit of this loan i.e. total amount repayable less the amount of the loan, would be EUR 81.96. The Annual Percentage Rate (APR) is based on our Standard Variable 'A' Personal Loan Rate (less 1.5% student loan discount) and amount borrowed. The maximum term of the loan is five years. The maximum amount of the loan is EUR50,000.
For Student Contribution Charge Loan
An example of 4 annual drawdowns of EUR3,000, totalling EUR12,000, with interest only repayments over the 4 years, followed by 5 years capital and interest repayments of the full outstanding capital balance of EUR12,000 will have monthly repayments of EUR 21.01 in year one, EUR 42.01 in year two, EUR63.01 in year three, EUR84.01 in year four and EUR245.67 in years five to nine. Example assumes 3% discount applies in all years. Interest Rate 8.45%, APR 8.73%. If the APR does not vary during the term of the loan the total cost of credit of this loan i.e. total amount repayable less the amount of the loan, would be EUR5,260.68. The Annual Percentage Rate (APR) is based on our Standard Variable 'A' Personal Loan Rate (less 3% discount for the Student Contribution Charge Loan) and amount borrowed. The maximum term of the loan is 9 years (up to 4 years with flexible payment options and 5 years full capital and interest repayments on the balance). The maximum amount of the loan is EUR12,000 (up to 4 annual drawdowns of EUR3,000). The loan cannot be used to fund exam resits, repeat a year of study, or fund any post graduate study. Evidence may be required. A new credit application is required each year to draw funds down.