www.iva.co.uk

Hi everyone,

I dont post on here very oftern, but i have always come on to when i have an issue and found the answers i've been looking for. Makes you feel like its not just you!

I've got a quick question. I want to study with Open university and wondering how my IVA would affect this?
I've currently got 2 payments left (fingers crossed) ive just submitted my final income and expenditure review to grant thornton.

The course starts in May, but to be able to afford it i would need to pay in installments. Does anyone know if having an IVa in the past would effect this?

Thanks in advance
Sara

Hi Sara, I'm not sure about this but are you credit checked to be able to pay in instalments for an OU course?

One of our posters I'm sure will be able to assist and well done on almost finishing your IVA x

Thanks Lesley... Its been a long hard slogg but there is definately light at the end of the tunnel x

What i can remember (been a few years) yes they credit check you for the Budget Student Account - it also can be a quite a bit of money to fund each month.

I am also sure you are likely to need the amount checked by you IP as its about approx £650 per 60 credit module

They credit check using experian, they only do a basic check but your IVA will at the very least need to show as discharged on experian first.

Hi

I'm an ex OU student but still keep in touch with what is going on through the OU website.

I'm pretty certain that OU fee's have risen significantly (as have traditional Uni fee's) but there is talk of finance being available through Student Finance for he the first time.

Might be worth looking into.

Good luck with your studies.

Sus

They have risen steeply Sus! From September they will stand at £5000 for what would count as a full time academic year. However current students could be eligible for the transitional fee structure that guarantees the fees to stay the same as when you commenced you studies providing you meet certain criteria.

Sus-
I've looked into student finance, however after completing my IVA the idea of a 'Loan' doesn't really appeal to me. Plus, if I start my course in May I'd qualify for the 'cheaper' course fees and not the new much higher ones that start in Oct.
Basically if I start in May, I would pay around £5k for the degree, but would had to fund upfront or via installments (if i pass the credit check), If i wait until October when student finance is available i would pay £15k for the same course- MADNESS!

Another point to note is, i checked my experian credit report online last night and there is no mention of my IVA and my credit score is excellent- equifax on the other hand is much differnt story. So will keep my fingers crossed!

Ginger- Would i have to inform my IP if the course offically starts after my final (fingers crossed) IVA payment?

Sorry for the long reply!

Sara - until you have your completetion certificate - you are still bound by the IVA terms - that does include seeking credit !

I'm current OU student, my last ou course that i took in 2009 -2010 i payed for it through the old system (budget account) i started my iva whilst paying the monthly amount for the ou budget account and the IP would not take it into account when doing my iva. as i defaulted on it with ou (hence the iva) i have just finsihed paying for it. and the reviews the ip did not accept this with the the allowance it had to come out of our budget.
as i have not studied resently i quailfiy for the new structure that comes into effect in september.

student finance.(this is fees not living expenses). basically it is the same as the old student loans - yep i have one of these too (this was for living)... the open university apply to the government on your behalf - no credit checks technically not a loan to you but paid to the university on your behalf.

whether you got to a bricks and motar uni or OU. previoulsy OU never quailified for any of this but now it does.

Thanks for all the replies... Didnt realise i would still be bound by the no credit

think i've found a solution, the first course is only £450 pound so going to lend this from my partner and then start saving for the 2nd course whiles completing the 1st. This means that by the time october comes round soundnt even need credit to pay for the course- Happy Days...

Role on April 30th [:D]

Sounds good to me Sara!!

Good luck with the course!!

Good luck from me also - enjoy your OU modules - just being nosey - what are you studying ???

Thanks Ginger, looking at Leadership and Management or Business studies

Hi Sara,

Is their any other education organisations that could offer the same course, without a loan ?

I am doing 2 courses at present which I paid off last year prior to iva, but they let me pay in installments to suit for each module, and did not carry out a credit check - as far as my credit records showed !