A local credit union has seen a big increase in students applying for loans.
Jackie Kealy, from St. Canice’s Credit Union, told KCLR that students are opting to apply for car loans in order to commute to college rather than paying for accommodation at their chosen university.
Both parents and students are starting to take out loans in credit unions, and Jackie told our Sue Nunn that the financial pressure on families can not be understated.
She said “Where we see our bigger expenses coming in ar for third level, they’re starting to come into us and they’re, you know, they’re big loans. They’re a big expense because most parents still have a mortgage. And they might have a car loan and then they’re putting College on top of it and we see a lot of students applying for cars now because rather than staying they’re going to commute”
You can listen to Jackie’s full interview on The Way It Is here.
