would a student loan / grant be counted as extra income.
I want to do a college course but would the loan /grant for the course be taken by the IP towards my payments.
or would it be better to wait until my iva is over.
Hi
I think a grant would be classed as extra income and I think a loan would not be allowed under the terms of yout IP.
Wait for Melanie Giles/David Mond or Michael Peoples to respond as they will be able to give a difinitive answer
Regards
You would need the IPs permission to obtain any credit but the loans/grants should be for fees, books etc and as such would not increase your contributions. In the long run it could help the IVA as when you complete your course your earning potential would have increased and this could lead to better paid employment and higher IVA payments.
Surely the grant would need to cover your tuition costs/books etc so I could not see that being treated as additional income. And an IP may grant permission for a loan given the right circumstances, so long as this did not affect your ability to meet your contractual IVA payments.
