Education Loan Scheme

Completed applications must be returned not later than Friday 1st September, 2023 at 3:00pm

The Scheme will only apply to participating educational institutions in the CAO/CAS list (Universities and Institutes of Technology). Consideration will also be given to applications for students attending similar educational establishments outside Ireland.Applications will not be processed without a Copy Certificate of Registration/Attendance from the College or a Letter of Acceptance from the College.Originals are not required and will not be returned. A CERTIFICATE OF ATTENDANCE/REGISTRATION IS REQUIRED FOR EACH ACADEMIC YEAR. Copy of Fee Payment Form or Receipt stamped by the bank will suffice (See Also Rule 18).

The standard loan amount, which will be given to a member, will be €5,000 per student per annum. Students must be under 25 years of age on 1st September each academic year. This applies to first time applicants only. Consideration will also be given to members and/or their spouse/partner. A maximum of three loans will be approved in respect of a member in any one year.

An administration subscription of €200 will be added to each loan of €5,000 granted and the total will be required to be repaid over 208 weeks at €25.00 per week for serving members or over 48 months in the case of retired members at €108.33 per month (both deducted at source).

Members must ensure there are sufficient funds in the salary/pension to meet deduction amount required. Failure to meet agreed repayments will result in future loan applications being refused and/or additional administration charges being applied.

Members cannot instruct Pay Section, Killarney to cease/amend repayments to the Education Loan Scheme. You are requested to contact this office directly in relation to any aspect of loan repayments and to notify us immediately if you notice any missed weekly/monthly repayments.

Repayment method is weekly/monthly and deducted at source from Garda Pay/Pension only. There is no provision to make repayment through a bank or Credit Union e.t.c.

Additional applications will only be considered at the discretion of the Committee of Management. In the event of a second loan of €5,000 being approved, the administration fee for both loans will amount to €300 (must be submitted together) and the total will be required to be repaid over same period of 4 years at €49.52 per week in the case of serving members and €214.58 per month for retired members.

A maximum of three loans may be granted per student pursuing an under-graduate course while a fourth loan will be considered where a student is undertaking a post-graduate course.

In the event of a member dying during the period of the loan or in the event of non-repayment of the loan, repayments shall be the responsibility of the spouse at the appropriate rate. Where there is no surviving spouse, the student of that deceased member shall be allowed an additional period in which to repay the loan. This period shall not be greater than three years after the student has completed his/her course for which the loan was obtained.

Where a member is survived by a widow/widower prior to the loan being fully repaid, the Company reserve the right to have deductions made from pension until the loan is repaid in full.

Section A of the application form must be completed and signed by the member and his/her spouse (if married), otherwise the application will not be processed.

The application form contains a Legal Agreement, which the member, student and/or spouse enter into on his/her application being successful.

Members are obliged to inform the Trust Fund if they are currently on half pay or pension rate of pay. This however in no way discriminates against a loan being approved.

Members are obliged to inform the Trust Fund if they intend to retire prior to 1st January 2022. This simply enables us to calculate repayments on a monthly basis instead of weekly.

In the event of the application being successful, the member shall agree to sign the necessary authorisation form to allow the deductions to be made from salary or pension. Authorisation form should be returned directly to this office.

Under no circumstances can members apply by the due date and have payment deferred until the new financial year. E.F.T’s authorised under this Scheme will issue only during the month of November. The account is closed on 31st December each year and any surplus funds are transferred into the following academic year’s fund.

Completed application forms must be returned on or before 3:00pm 1st September, 2023 irrespective of when the academic year commences. It is strongly advised that where documentation from the college is not available by that date, that application form should be submitted with a note indicating that documentation i.e. Certificate of Registration or Certificate of Acceptance from the college will follow. This is to ensure all applications are submitted by the closing date. However, applications will not be processed until the relevant College Certificate (See Rule 2) is received. It is intended that loans will be processed promptly and E.F.T.’s paid from October, 2023. No E.F.T.’s can issue after 30th November, 2023.

Queries relating to the Scheme will only be accepted from members of the Trust Fund. We will not enter into correspondence with any Third Party, Spouse, Solicitor or Debt Management Company e.t.c.

It is the responsibility of each member to notify this office in order to reduce repayments after each four year period.

Any matter not provided for in these rules shall be dealt with as the Committee of Management may determine.

New Applicants are invited to apply in writing to the Trust Fund, email info@gardabenevolent.ie or fax 01-8307017 quoting Garda Reg. No. and full postal address. You are requested not to telephone the office for an application form as this seriously disrupts the prompt processing of applications. Existing members of the Scheme will automatically receive an application form from the Trust Fund.