Study Abroad Loans: Education Loan to Study in Ireland

Education loan to study in Ireland is available for undergraduate and postgraduate courses. To pursue Diploma and Certificate courses from Ireland, study in Ireland aspirants can consult NBFCs and new-age FinTech companies. Whereas, for bachelor’s and master’s programmes, Indian students can apply for education loans at public and private banks. If they fail to avail of government or private student loans, they can reach out to NBFCs and international lenders.

Students going to Ireland for higher education can avail of up to INR 20 lakh in study-abroad loans. However, loans greater than this threshold are also available on a case-to-case basis. The sanctioned loan usually covers tuition fees and laboratory/library/examination fees. It also covers travel expenses, the cost of a computer and books/uniforms/equipment. Furthermore, the education loan for Ireland also includes the cost of a two-wheeler of up to INR 50,000.

After availing of education loans, it is essential to plan a repayment schedule to improve CIBIL scores. To begin with, study abroad students can start paying interest rates during the moratorium period with part-time jobs. As for the principal amount, students have to pay this after the conclusion of the moratorium period.

Cost of Studying in Ireland

This European country is an appealing study-abroad destination, owing to its high-quality education. However, the cost of studying and the cost of living in Ireland is slightly higher than that of other countries.

Average Tuition Fees

The average yearly tuition fees for different courses in Ireland are as follows:

Cost of Living in Ireland

Here is the average cost of living in Ireland:

Eligibility to Apply for Education Loan to Study in Ireland

After considering the expenses, it is essential to know about the eligibility requirements. Students must comprehend and meet eligibility criteria to apply for student loans for Ireland from preferred banks. Different banks have varying eligibility guidelines. Common factors considered by all money-lending institutions (banks) include:

Applicant must be an Indian Citizen.
Moreover, the minimum age for solo application is 18 years. Whereas, applicants below 18 years of age require co-application with parents.
In addition, admission to graduation courses/professional/technical courses/post-graduation programmes is required for loan application.