Apply for student loan during IVA, possible?

Get expert opinion. This is the place for new questions to be posted.
11 posts Page 1 of 1
Rosie8
Posts: 5
by Rosie8 » Mon Apr 16, 2018 12:34 pm
Hello. Friend on IVA would like to know if she can apply for student loan for a 4months beauty course. She already had a student loan of 33K.
Also she is on ESA at the moment and had an agreed break. She was supposed to start paying weekly again. She considers DRO instead. Same question about student loan on DRO. Very few job opportunity where she lives and she wants to improve her situation. Thanks
User avatar
Lisa Thomas
Industry Expert
Posts: 6869
Contact
by Lisa Thomas » Mon Apr 16, 2018 2:26 pm
so is she considering failing her IVA and then applying for a DRO?
User avatar
kallis3
Forum Expert
Posts: 73480
Contact
by kallis3 » Mon Apr 16, 2018 2:52 pm
How long has she been in an IVA?
Rosie8
Posts: 5
by Rosie8 » Mon Apr 16, 2018 3:33 pm
Lisa Thomas wrote:
so is she considering failing her IVA and then applying for a DRO?


She looking at her options.Main thing for her to do the course.If she can on IVA or DRO,she will see if she can go on with IVA.In my opinion she cannot as she's not able to pay £20-30 a week.Maybe £10 but they won't accept that will they on IVA.She's been paying just for about a year.I think she just paid the company and now the creditors would get their money.
Rosie8
Posts: 5
by Rosie8 » Mon Apr 16, 2018 5:42 pm
kallis3 wrote:
How long has she been in an IVA?


She@s been in IVA for about a year I think.She paid the company fee and the creditors would start getting their money from now on after an agreed break of 2or3 months.
Rosie8
Posts: 5
by Rosie8 » Tue Apr 17, 2018 9:24 am
Can someone help please.It would be urgent to know how to go on from here as IVA company is sending emails.Thanks
User avatar
Lisa Thomas
Industry Expert
Posts: 6869
Contact
by Lisa Thomas » Tue Apr 17, 2018 9:33 am
I'm afraid I don't know anything about student loans but you cannot usuaully, when in an IVA apply for £500 f credit or more.

I don't have time to research the answer for you but suspect you can find it on this website or by calling them:

https://www.gov.uk/contact-student-finance-england
User avatar
Foggy
Forum Expert
Posts: 26893
Contact
by Foggy » Tue Apr 17, 2018 9:40 am
If she has to start repaying this loan right away it isn't a standard student loan (which isn't normally repayable until you reach a certain level of earnings after qualifying) and so would not be allowed in an IVA. Has she thought about trying for an apprenticeship in the industry?
Rosie8
Posts: 5
by Rosie8 » Tue Apr 17, 2018 9:55 am
Lisa Thomas wrote:
I'm afraid I don't know anything about student loans but you cannot usuaully, when in an IVA apply for £500 f credit or more.

I don't have time to research the answer for you but suspect you can find it on this website or by calling them:

https://www.gov.uk/contact-student-finance-england


Thanks Lisa.I 've called them this morning and they are not bothered by any debt unless you're behind with payments to them.They advised to check with IVA company.But my friend would like to know before contacting them.It's all too much for her to deal with as she has mental health problems.

[quote="Foggy"]
Are you asking or stating that she has to pay it back right away?It seems we haven't got enough information at the moment.I'll tell her to find out about course details first.And it looks like she will have to ask IVA company directly.My friend's situation is very complex.To her this course would be a lifeline.Just to get hope and positive things in her life as she is struggling with depression.
User avatar
Lisa Thomas
Industry Expert
Posts: 6869
Contact
by Lisa Thomas » Tue Apr 17, 2018 10:03 am
I suspect she will not be able to obatin the credit due to the standard £500 clause in most IVAs per above - she needs to check her proposals, modifications and T&Cs for the answer I'm afraid if she doesn't want to ask her IP.
User avatar
Lisa Thomas
Industry Expert
Posts: 6869
Contact
by Lisa Thomas » Tue Apr 17, 2018 10:04 am
*obtain
11 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 18 guests