‘TCD Finance’ loan scheme formally announced

In College Education | on July, 09, 2012 | by | 0 Comments

‘TCD Finance’ loan scheme formally announced
News from The University Times:

Jack Leahy

News Editor

Trinity College Dublin Provost Dr. Patrick Prendergast and Bank of Ireland Chief Executive Officer Richie Boucher today formally announced a loan scheme for current and new undergraduate students of the College.

The scheme, known as ‘TCD Finance’, will help students cover the costs of the student contribution charge, expected to rise incrementally from its current rate of €2,250 to €3,000 by 2015. The seven-year loan term will be split into two periods with different rates – an interest-only variable rate of 5% while the student attends College for years 1-4 and a variable rate of 9.7% payable for years 5-7 when the student graduates.

Welcoming the initiative, Provost Prendergast said: ‘Trinity is conscious of the difficulties faced by students and their families in financing a university education as a result of the current economic downturn, coupled with the increases in the cost of the Student Contribution Charge.  This initiative is the first of its kind in third level and it is hoped to help students access a quality education at Trinity.’

Students who take the loan and their families will have to budget for a €100 per month repaymen…………… continues on The University Times

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