I would like to know if you are in an IVA and you receive student finance as well, will you monthly payments be increased because you get another £3900 every 4 months on top of you wages? Will be considered as a extra income, and increase your monthly payments??
The general consensus, up to now, is that this is treated as income, but you can offset most, if not all, against expenses for which is it payable: books, materials, subscriptions required for research, course related travel, meals at college, etc., etc. so, at the end of the day , it does not form part of your disposable income and therefore IVA payment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk