Posted: Sun Jan 21, 2007 8:41 pm
I am looking for a bit of advice regarding student loans. I am wanting to go to university to do teacher training starting September 2008. All being well I will be about a year into an iva at this point (fingers crossed anyway!) I am basically wondering if it is possible to take out student loans when on an iva. You see I know it is further debt however it will treble my income once qualified and in a job and also, the course will last 4 years so the iva would finish before I graduated. My point being I would not be required to make any repayments on the student loans until the IVA was complete anyway. By this time my income would go from about £5k now to £19 - £20k. If I was unable to find a job straight away this would not cause new financial difficulties as you are not required to repay student loans til you are earning £15k plus. Does anyone know if I could take the loans as it is a very different setup with this sort of borrowing and after all would significantly improve my long term finacial situation? I hope this doesn't sound like I am not taking my current debt situation seriously by looking at further borrowing cos I really regret the situation I am in now. I dont see this as the same sort of borrowing, I see this as an investment into my finacial future which will definately be of benefit to my financial situation long term. Any advice or examples of personal experiences would be great.
Andrea x
Andrea x