IPA and student finance

tillytrotter12

Hi
I think I read somewhere that a student loan isn't classed as income by the OR as it is repayable? Does anyone know if an NHS student bursary is classed as income?
Many thanks

National_Debtline

Hi Tilly


The Insolvency Service Technical Manual does confirm that a student loan is not income that can be included in an Income Payment Arrangement (IPA). It also specifies that payments made under the Further Education Initial Teacher Education Bursary Scheme have no reference to 'student loan' provisions and are not debts. Therefore any payments under this scheme received by a bankrupt would be taken into account for an IPA. You can find this information here https://www.insolvencydirect.bis.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/part3/part_3.htm#31.7.78.


There is no reference made to NHS bursaries so it would be advisable to contact the Insolvency Service directly to check this with them. You can find their contact details here https://www.gov.uk/the-insolvency-service. Good with it all.


Susie
@natdebtline

KeepOnKnitting

I became an NHS funded student in Sept 16 before my discharge in Nov 16. My income on bursary and part time employment meant that the OR didn't even ask me to keep them up to date on my income. Not sure if this helps. As an independant single person, I get full bursary, but no child or disability allowances. I get the reduced £2324 student loan, and I was earning about £100 a week at the time.