Is a student loan to pay fees for NVQ (level 3) classed as a real loan ?

[MaxB]

Hello, I'm hoping someone can help please.
I'm in an IVA with my husband and last year I did an NVQ in childcare (level 2) at a discounted rate and paid it monthly. The place that I volunteer at has told me there is no discount for level 3. The tutor is recommending that people take out a student loan from the college and pay it that way.
My question is that is a student loan from a college still classed as a real loan? Even though it's to pay fees. There's no way I could afford it otherwise.

[lou3]

YES - do not take a loan without the permission of your IP. ANY loan - even a loan from your mum - is classed as further credit.

If the college course means that you will earn significantly more within the term of the IVA and increase the return to creditors the IP will probably allow it. If the repayments or the college time reducing work time will impact on your ability to make your payments then you will probably have to wait until after your IVA is completed.

[Michael Peoples]

There should be no problem with your IP granting permission for this loan. It will not need repaid until you have started earning a reasonable amount so if this happens during the IVA creditors will benefit.

[Shining]

If it's the Adult 24+ learning loan as Michael says you won't repay until you're earning 21000 per year.

There is no credit checking and here are some further details of this.

I work in a College and lots of our adult learner use this method to fund their courses.


*edited to add link

https://www.gov.uk/advanced-learning-loans/overview

[MaxB]

Thanks for your replies. I'm not working because I have a small child. This is ideal because I can train while he's there with me and hopefully gain paid employment from this (so I can pay more to the IVA)
There's an open day on Monday so I'll definitely attend and then call my IP afterwards.
Thank you!