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Do i have to declare student grants when in an IVA? I am currently 3 years into an IVA and expect to get a lot of financial help to go to university in October. Do I have to declare this as income or is this extra money considered for studying only? I have already asked my IP if by making bigger payments I can increase the term but she said this is not possible. Please help.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Emily.kymy

Do i have to declare student grants when in an IVA? I am currently 3 years into an IVA and expect to get a lot of financial help to go to university in October. Do I have to declare this as income or is this extra money considered for studying only? I have already asked my IP if by making bigger payments I can increase the term but she said this is not possible. Please help.

I'm afraid I would think that's income to be honest, and as such will be considered in your I&E.

Wouldn't bigger payments decrease your term?

It wouldn't necessarily reduce the term, that would only happen if you could pay back 100p in the pound plus fees or offer a full and final.

Hi, I completed my degree last year and was in an iva all the way through, and yes you do need to declare any student grants, bursaries etc. as they are considered to be income. Good luck with your studies!

The money needs declared otherwise affordability would not stack up. However, you can use the money for books etc so advise your IP and update your income and expenditure.