Student loan

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laura179
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by laura179 » Thu Jul 19, 2018 5:29 am
If I am in an IVA, and have been awarded a loan from student finance to start in September, will that be classed as income, and will some of it have to be committed to the IVA? I will still have the part time job that my original IVA payment is based on.
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MerlinL14
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by MerlinL14 » Thu Jul 19, 2018 12:14 pm
It will be classed as income, however you can off set the balance with an expenditure of the same amount. The loan, I assume, is for 'stuff' you need for Uni? Just inform your IVA company and list what it is going to be used for, books, extra private lessons etc.
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Foggy
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by Foggy » Thu Jul 19, 2018 12:24 pm
laura179 wrote:
If I am in an IVA, and have been awarded a loan from student finance to start in September, will that be classed as income, and will some of it have to be committed to the IVA? I will still have the part time job that my original IVA payment is based on.


Most IP's will offset this against what it is designed for in expenses -- some are more helpful / understanding than others.
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