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IVA's Parents of Students

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We are both in the unfortunate position of having one IVA and one DMP between us as a couple. We have 2 children both going to university in September and we are panicking as to how on earth we are going to afford it! The grant applications seem to ask only for income not expenditure which doesn't reflect our situation. Are we missing something? Is there any help for us out there? Help please :j

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  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    Household income is used to work out grants and loans.

    To be honest, they may not need extra help.

    I assume you have used the Student Loan calculator?

    If you know how much (approx) they are getting, you can work out the costs, looking at university accomodation, approximating food (£80-100 a month), alcohol etc. and sort a budget out.


    And FYI you should remind your children that loan applications open March 16th.
  • 2_cups_of_coffee
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    Hi and thanks for responding
    Yes I've got access to all the calculations and budget stuff etc. however what I'm really trying to address is does the grant application system take any notice of 'disposable income' as opposed to 'income'? In our situation due to redundancies recently every penny is accounted for and we're concerned that we wont be able to help them as we should.
    I have friends earning less whose kids get grants but as a family they have more money to play with each month...........
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    Hi and thanks for responding
    Yes I've got access to all the calculations and budget stuff etc. however what I'm really trying to address is does the grant application system take any notice of 'disposable income' as opposed to 'income'? In our situation due to redundancies recently every penny is accounted for and we're concerned that we wont be able to help them as we should.
    I have friends earning less whose kids get grants but as a family they have more money to play with each month...........

    No, it's income, not disposable income, sorry!
  • twokidsandadog
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    Hi 2 cups of coffee

    Did you get anywhere with this? I'm in the same position and can't get over the injustice of my kids being disadvantaged because of my screw-up. Does anyone out there know if children, like ours, can go to the University itself and seek a grant of some sort to help them?
  • silvercar
    silvercar Posts: 47,133 Ambassador
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    All universities offer hardship funds. How much the student get depends on the circumstances and the funding a uni has.

    There was a thread on here about a month ago about getting the OR to allow in your soa the support to a student that the SLC calculated you could afford to give from your income.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • FavDaughter1
    FavDaughter1 Posts: 300 Forumite
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    Hi, we started the IVA path in October last year. our son applied for help from the uni hardship fund& got some help,not great but everything helps. we were v fortunate that he'd worked while he was at college & saved - thank goodness!

    we also started a "hamper box" off before he went & then carried it on so that when we visit we take a "hamper" to him. we put dish cloths,soap powder,tinned veg,pies,beans,tuna,princesses steak in a tin,cereal,juice etc.
    take care to check dates on packets. his mates are always amazed at how much food he has. we pick things up on offer when we do a weekly shop,it soon mounts up!

    accommodation is a huge drain. have they considered living at home & trying for a more local uni? encourage them to get a part time job. our son has grumbled about having a job(it was temp,not got anything at the moment),but,he now see's that it's given him a employment record for prospective employers.
  • FoggyBrain_2
    FoggyBrain_2 Posts: 1,121 Forumite
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    My mum, God Bless Her, used to home in on all the BOGOF offers when she was shopping and save the "free one" for me .... a habit that continued even through my married life, until she passed away. I used to get a strange mix of goodies, but every box was like Christmas !!
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