July 1, 2020
by Addison Davies
Loans have become a constant in our lives. We get loans for even the smallest of things nowadays. A reason for this is the fact that loans have become easily accessible for the borrower.
We do not have to physically go to the lender to inquire about the possibility of a loan or whether or not we are eligible for the same.
A query like this can be put as a question on the lender’s online portal, and you will have your answer within minutes. A day after that, you can have your 24-hour loans, quite popular in Ireland, in your bank account.
It is the case for the working class, but what about the students? Do they have the same kind of ease in loan acquisition?
The answer is yes, they do. The approval rates of students are much higher than the others. It is because lenders do understand that students are the future of our nation, helping them grow would not benefit the two parties involved in loan acquisition, but the entire country.
Here are three advantages these loans offer to students during a time when learning is their sole aim.
Allows the Student to Know His Worth
Up until high school, we are still struggling to know who we are and what we can become as an adult.
An 18-year-old cannot be expected to have the perfect vision of himself ten years down the line. There are far and few of us who do that in their teenage years.
It is when we step into college that we become adults, both literally and figuratively. College prepares us to establish an identity that would stay with us for years to come.
The decision we take in a university set the tone for us to follow. Someone without the college experience is often a little less versatile and equipped to handle a particular situation.
Living in a boy’s dormitory and surviving can make you withstand almost anything life can throw at you. If you have lived in one, you would know the level of filth there is.
Opens a World of Opportunities
After you graduate from university, you not only acquire a degree but a wealth of knowledge as well. Universities all over Ireland provide internship programs as well to help the student’s transition into the corporate world even smoother.
That is why, saying that through student loans in Ireland, a student does get not only the theoretical kind of knowledge but also the practical kind from his years at university.
As a positive outcome, the student has a world of opportunities ahead of him from which he can pick the one he thinks will make his future as bright as the shining sun on a sunny day.
I say this because universities have links with many leading companies in every domain that conduct their recruitment drives, and students are allowed to contact them within the campus.
Makes the Debt Seem Less like a Burden
In Ireland, the most flexible kind of loan is meant for the students. These loans will never let the student feel like he or she is trapped in a debt obligation that they may never be able to repay, rather the opposite is true.
There are plenty of facts that can support this claim.
- The paramount fact that this is the only loan
that puts the repayment on a halt until a year after the student completes his
education and gotten employed.
- There are minimal obligations for student loans
in Ireland, with no credit checks, no guarantor, and even no fees levied by
lenders like us.
- They have lower interest rates than other
commercial loans, and your income will decide your repayment pace.
- Finally, a student loan does not reflect in the borrower’s credit history. So, even if you jump a few installments, it would not be recorded.
Helping the students flourish is something we feel is our social duty. That is why we offer the best to the learners so that they benefit more than us.