www.iva.co.uk

I am in the third year of my iva and would like to start a degree course in sept. I would need student finance to do this. I am confident I can maintain my payments so am not looking to end my iva. I am going to ring my ip to seek permission but just wanted to ask if it's something they normally allow, student finance. Reading a lot of posts that ask about it but nobody that has actually got the go ahead from them. Am I wasting my time calling them for them to say no? I really want to do this course. Thanks.

Hi Michelle,

My former IP informed me that As student finance for loans is normally paid after the term of the degree or when earning above a certain threshold, then their shouldn't be an issue, however it is still a form of credit, and you will indeed need to speak to your IP.

If it's a full or part time degree they may ask how you will be able to maintain your payments if your income has to drop as a result of attendance to uni, as well as any increase in expenditure is, travel costs.

If you can manage payments that way then they could question a few things surrounding your allowances regarding
your income and expenditure, but I believe that if you choose to buy cheaper products for example under your household budget, then you could always use that.

You will need to speak to your IP about this, but most would, I believe, not have a problem, due to the nature of student finance.

We rarely have a problem with this either especially as the loans normally do not need to be repaid until after the IVA is over.

just asked the same question, then saw your post ! I to hope to be doing a degree course September but would need to apply for finance I intend to work bank shifts in between placements until the iva is paid, for the last 2 years. Just don't want to ring to be told no, will watch your post with interest, good luck with the decision and the course !

Thank you for your responses, that's very encouraging. Started to panic they would just say no. I'll email them today, my case officer seems to change every 6 months so when they get in touch I'll let you know what they say. Thank you all.x

Hi

I've just finished the first year of a degree and it wasn't a problem as finance isn't repayable until 4 years after you start the course and only once you're earning over £21k

Good luck!

I'm with Debt free direct by the way

Good luck to all with your studies, don't let the IVA hold you back.. But as others say just check with your IP.