17
September 2021

third level, loans, college, students

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Struggling to cover the costs of Third Level?

Third Level Education Loan with Altura Credit Union

Students continue to struggle with the costs of going to college with nearly half struggling to afford living expenses. 88% of students worry about money and over 40% stress about money all of the time. Finding and keeping a job, travel expenses, paying rent, as well as college fees and books, are all some of their biggest financial concerns for students going to third level.


The findings were revealed in a new survey* carried out by the Irish League of Credit Unions (ILCU) and spunout, Ireland's youth information website.

Students reported that in order to cover third level expenses, the majority (71%) plan to work part-time, followed by a mix of support from parents (59%) and the student grant (40%).

The costs associated with third level education can be a huge financial burden and a large number of students, or their parents, may need to borrow to meet costs.

At Altura Credit Union, we believe that college should be about learning and growing. A credit union student loan, for example, is a far less expensive way to borrow money for college than using a credit card, or a high-cost moneylender

Here at Altura Credit Union , we have a special student loan on offer with an affordable rate of 4.9% (5.1% APR).  We are always happy to work with students to ensure loan repayments are structured in the best way possible for their circumstances. This makes it easier for students to manage and there will never be a penalty for doing this either. With our student loans, there are never any hidden payments or transaction fees, nor are there any additional fees for repaying the loan early

*All findings, The national study was compiled by the Irish League of Credit Unions (ILCU), and carried out by spunout - Ireland's youth information website, in August 2021.

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