Unique bank loan scheme for computing and engineering graduates – Bank of Ireland and DCU initiative

DCU and the Bank of Ireland today announced a unique discounted loan scheme for those recently unemployed who wish to study engineering and computing at postgraduate level at DCU. The scheme is available for students who wish to enter DCU this September or in March 2010. It is the first of its kind in Ireland and is intended for graduates who have recently been made unemployed and who wish to upskill.

This unique discounted loan can provide up to €15k in funding to cover fees and living expenses. The scheme also allows students defer making any repayment on the loan for 18 months giving them financial freedom to concentrate on their studies. Applicants must be unemployed, but must not be longer than 12 months out of work. They should meet the university’s minimum entry requirements and Bank of Ireland’s normal lending criteria and terms and conditions apply.

DCU President, Professor Ferdinand von Prondzynski, said that the ‘reskilling’ and ‘upskilling’ of graduates, particularly in the areas of engineering and computing, is an important strategic response to the needs of industry and the economy. “This initiative is just one of a number of schemes set up by DCU in response to the need for a more specialised workforce as well as to the rapid increase in unemployment. DCU is delighted to cooperate with the Bank of Ireland in offering this opportunity to students”.

Commenting on the initiative, Jonathan Byrne, Head of Mortgages & Loans, Bank of Ireland, said: “Bank of Ireland has always been at the forefront in delivering meaningful products and services to Ireland’s students and graduates. We are very conscious that in the current economic climate Ireland’s future generation of employees need initiatives such as this to enable them upskill for a changed environment. We look forward to empowering this group of graduates to enhance their skills and their prospects for their future careers”.

The postgraduate courses available on the scheme include:

  • Graduate Diploma in Information Technology
  • MSc in Electronic Commerce
  • MSc in Security and Forensic Computing
  • MSc in Software Engineering
  • MEng in Electronic Systems
  • MEng in Telecommunications Engineering
  • MSc in Computer-Aided Mechanical and Manufacturing Engineering
  • Graduate Diploma in Mechanical and Manufacturing Engineering

Students who are interested in the scheme should visit the DCU website for further details – www.dcu.ie

They can also contact the Glasnevin branch of the Bank of Ireland in Glasnevin – 01 8375178.