www.iva.co.uk

Hi all,

I am year 2 into an IVA and now my children are all nearly away to school - youngest starts september 2010 - i am looking into finally starting my university education which i deferred twice before due to the children.

Anyway, what i am asking is will i be able to apply for a student loan to cover tuition fees and the other bursaries and grants that can go along with it. Do they do credit checks on those kinds of loans - i mean they are paid back through the PAYE tax system once you are earning over 15k so they are not like normal loans.

Hi,

I'm not sure about this, but I think you may be credit checked as it is a loan.

However, as I say, not sure so hopefully one of the professionals will be along to answer.

Ask your own IP,after all you would need permission to apply for the loan anyway.

Hi

I phoned my IP today about advice for a student loan and i would not be allowed to apply for a student loan whilst in the IVA because its seen as "additional credit" so that means putting my university education off for another 4 years, by then i will be 32, its going to take 6 years of university to qualify for what i want to do (teacher of business and economics) so i'll be near enough 40 by then!!!

I dont want to wait that long and be stuck in dead end jobs til then

If i fail my IVA and go bankrupt, after the 12 months til being discharged where will i stand on getting a student loan then? Its not like the money even comes to me, it just comes straight off the tuition fees and i pay it back once i'm in a job earning over 15k a year.

I dont think student loans are credit checked, i think i just cant get one whilst in the IVA purely due to the additional credit rule.

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I cannot see why this would not be granted, so long as it did not disturb your IVA payment and you made full disclosure to the Student Loans company about your IVA. Which firm are you with and did you speak to the IP personally, or a member of staff.

I a with money debt and credit, not really had any problems with them so far so good.

I spoke to someone in post appointments and actually to be honest i have no idea of my actual IPs name, unless i dig out the paperwork and go direct through to her.

Like Melanie I do not see a problem so long as your IVA payments are not affected. It is a default of the IVA to obtain credit 'without the consent of the supervisor' so IVAs are not an automatic bar to credit.