I'm in my second year of an OU degree, and will be registering for next years course in the autumn, at which point the fee becomes payable. There is an option to pay the fee in installments, but as this is a credit agreement, would it be allowed in an IVA? https://msds.open.ac.uk/your-record/p14.dll?M01
I'm assuming it won't, so will have to make sure I save over the next few months, or ask for an OU voucher for Christmas to help out!
Speak to your IP about it, you may be ok if you can fund this as well as IVA payments.
Good idea to save and ask for the vouchers though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Most IPs will be sympathetic to clients who are wishing to better their career prospects via further studying during an IVA - so it may be worth having a chat with them to see if you can come to some compromise - other than that savings and gifts are a great way of paying for this cost - and when the IVA is concluded you should get the rewards for this in the long run.
I managed to include my monthly OU installments as part of my expenses, as there were only 2 years left from a 6 year course , thereafter the expenditure/monthly IVA repayments were adjusted accordingly
ps I got a BA Hons in English Language [:D]
I'm doing a 12 month TEFL course now but this was paid for in advance by my parents, I'm not sure if the IP would sanction this, but the OU was allowed because it started befor the IVA.
Last edited by Dilbrain on Tue Jul 13, 2010 5:34 pm, edited 1 time in total.
Thanks for the advice, I'll save what I can, should be near enough, especially as I've qualified to get £200 support from the OU's own funds for the last 2 years, just under the salary threshold and now won't be exceeding it due to the 2 year pay cut/freeze! In my 2nd year of Politics, Philosophy and Economics. Doing an economics course this year, current block about money and national debt etc, very relevant! So in 5 years I'll have a degree and be debt free! [:)]
