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Personal loan for full-time study

Jae14
Jae14 Posts: 11 Forumite
Fourth Anniversary First Post
So, I am currently in full-time employment. I am looking to study a full-time, two-year MSc but there is no option in Northern Ireland for post-grad student loans that can assist in maintenance/living expenses. I've never had a personal loan and have all credit paid off. Is it bad to apply for a personal loan, over a longer time period of say around 5-7 years, before I would start the masters if I ensure that I apply for a little extra to pay off the payments over the two years of study while not in employment?

Comments

  • You won't get a loan if you're planning to give up your job. And borrowing more in order to make repayments is a non starter.

    Use your income and existing savings to fund the course. 
  • DCFC79
    DCFC79 Posts: 40,610 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Jae14 said:
    So, I am currently in full-time employment. I am looking to study a full-time, two-year MSc but there is no option in Northern Ireland for post-grad student loans that can assist in maintenance/living expenses. I've never had a personal loan and have all credit paid off. Is it bad to apply for a personal loan, over a longer time period of say around 5-7 years, before I would start the masters if I ensure that I apply for a little extra to pay off the payments over the two years of study while not in employment?
    How would you make the monthly loan payments if no job ?
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