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IVA & Student Loans
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Hi all.
I've applied to Open University a few months ago and am due to start my course in October. I applied for student finance and grants and all that.
I applied for maintenance loan as well and in October when my course starts, around £1200 will be paid directly into my bank account to spend on what ever I like. The course fee etc is being paid directly from Student Finance to the Open Uni.
Just wondered if the £1200 is classed as a loan/extra income and if I have to pay the 10% 50% thing (still can't work out what it is in terms of my IVA agreement)
I'll be studying part time and will still be working the same 40hrs a week so wont be losing money and will still keep up the IVA payments.
Wanted to spend the £1.2k on some extra study books and a laptop but if I have to pay some/most of that into the IVA, then I won't bother with it.
Just wondering if anyone could shed some light on this...I'll call up IP tomorrow anyway to confirm but if anyone knows anything that would be great
I've applied to Open University a few months ago and am due to start my course in October. I applied for student finance and grants and all that.
I applied for maintenance loan as well and in October when my course starts, around £1200 will be paid directly into my bank account to spend on what ever I like. The course fee etc is being paid directly from Student Finance to the Open Uni.
Just wondered if the £1200 is classed as a loan/extra income and if I have to pay the 10% 50% thing (still can't work out what it is in terms of my IVA agreement)
I'll be studying part time and will still be working the same 40hrs a week so wont be losing money and will still keep up the IVA payments.
Wanted to spend the £1.2k on some extra study books and a laptop but if I have to pay some/most of that into the IVA, then I won't bother with it.
Just wondering if anyone could shed some light on this...I'll call up IP tomorrow anyway to confirm but if anyone knows anything that would be great
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