NUIG STUDENT UNION URGES CAUTION OVER NEW LOAN SCHEMES

Date Published: 02-Aug-2012

NUI Galway student’s union is urging students and parents who are considering taking up new loan schemes in the run up to the academic year to be cautious.

It’s urging people to "think twice" before accepting any offers by financial institutions to help with the rising cost of attending university particularly the student contribution charge that is currently 2,250 euro at NUIG.

The warning follows the announcement by Bank of Ireland of a new loan scheme which will be issued at a discounted rate for the duration of study and will increase on graduation.

Paul Curley, President of NUIG’s student union, says students and famillies are already financially stretched and they must consider whether they’re in a position to take on the debt.