Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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501. To ask the Minister for Finance if he will address a matter regarding the case of a person (details supplied); and if he will make a statement on the matter. [20096/22]

Neale Richmond (Dublin Rathdown, Fine Gael)
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520. To ask the Minister for Finance if his attention has been drawn to the fact that a bank (details supplied) has decided to cancel its loans for graduate entry medicine students; if his attention has been further drawn to the fact that this was the only source of funding for many students; if he has engaged with the bank on this issue; and if he will make a statement on the matter. [20613/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 501, 505 and 520 together.

I wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including decisions around a bank's loan offering, are the sole responsibility of the board and management of the banks which must be run on an independent and commercial basis. The bank's independence is protected by a Relationship Framework which is a legally binding document that cannot be changed unilaterally. This framework, which is publicly available, was insisted upon by the European Commission to protect competition in the Irish market.

Notwithstanding the above, Department of Finance officials contacted Bank of Ireland in relation to this matter and they have advised that demand for their Graduate Entry Medical (GEM) Loan has been declining, with only approximately 50 of these loans taken out in 2021. In contrast, they have seen their other loan offerings becoming more popular. They have therefore taken the decision to discontinue the GEM Loan from 31 July 2022, and have communicated this decision through their university branches.

Bank of Ireland have advised that they will continue to support students in financing their education through a range of other loans which are available for undergraduates and postgraduates. Information on these loans is available at

Finally, Bank of Ireland have confirmed that there is no change to the terms and conditions for the operation of any existing GEM Loan.