Today, I took a huge step in my life. I’m a big advocate for growing in life and learning from experiences. College is on the horizon and with a job looking likely to only begin next week, I needed to look for options. The next few months are going to be hefty on my near non-existent bank balance. Accommodation, social life, sporting equipment and fees, petrol and food are all going to be concerns in my daily routine. Seeing as I’m now 21 years old, supporting myself is something that I need to become comfortable with. My parents are fantastic and always support me financially if I’m in need of a helping hand, but becoming independent is an important skill to learn. I’m beginning to learn it! Today I took a big step in an ever growing life experience.
I have been accepted for a student loan. This is a big deal in my life. If you’d have told me that this time last year I’d have taken out a student loan, I’d have laughed. Laughed uncontrollably. Realistically, I’d have spent half the loan in the first week of receiving it. More than likely on bizarre objects, jars of sweets and quite frankly materials I have no need for. It’s funny how things can change in a year. Now, I feel more responsible and confident in my ability to act like an adult. Eventhough I’m still very much a child at heart, and do act like a pre teen human being in certain situations, but this is one I feel confident taking on.
It wasn’t an easy decision to make though. A lot of time was spent weighing up my options and making sure I didn’t make a quick, uneducated decision. In life, it’s better to sit down and really understand the pros and cons of a situation as opposed to rushing in and regretting it later on in life. I learnt this the hard way, with some of my previous decisions in life catching up with me. After a thorough discussion with my parents and myself, I decided to apply. The application procedure was very professional and formal, something you would obviously expect when dealing with a bank. A meeting was set up with the local bank manager, and after a lengthy chat I was granted approval for the student loan. Even just from sitting down in that environment and explaining my situation, I learnt so much. Independently setting up the meeting, having a discussion and explaining my reasons for the loan and breaking out of my comfort zone was a big step in my life. A step I’ll never regret. It’s a nervous experience but you have to put yourself in those uncomfortable situations to learn from them. I can tell you I won’t be afraid of a situation like that again, I’ll look forward to it!
The loan is worth €1500 and has to be paid back within a twelve month period. The option to push back the first three months is available. Whether I take that option depends on the job situation. I know you may think that taking a loan out without a job is a mad mans choice but I have reasoning behind this. Trust me, I’ve spent hours upon hours thinking about this loan and I have it down to a tee! Currently, I am unemployed but the likelihood of me earning employment is looking very much certain. A job opportunity could prevail within the next week, I’m very confident of it. I’ve had a few interviews and the responses have been great, so this factored into my decision to apply for the loan. If I don’t get a job, which is worst case scenario, I have the fall back of my parents who signed a gaurentee and indemnity form, allowing them to pay the money if I’m not able. As I’ve said, we really weighed up the options! This will 100% not happen, if anything it will make sure I get that lucrative job. I’m independent after all! I also have the option to take out the money but pay it all back or keep it aside and pay off a bit every month. Either way, I have to be responsible here. This is not my money and I can’t do whatever I want with it. Not unless I’m certain I can pay it all back.
So, to say I’m excited is an understatement. I’m excited about this new life experience and motivated to make sure I independently deal with this in an appropriate, mature and responsible manner. Learning about proper budgeting is a skill I’ll have to pick up quickly, and I can’t wait. Working to pay off a loan I achieved all by myself and earning the trust of a bank are also key factors in this life experience. It will help me immensely in the future. I’m positive, motivated and looking forward to growing from this experience. Onwards and upwards!
Have you ever taken out a student loan or any type of loan? How did the experience go for you? Let me know in the comments below!
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