I'm going bankrupt in a few days and considering becoming a full-time student in September.
I'll be applying to the SLC for student loans and grant, etc (making sure I inform them that I'm an undischarged bankrupt).
I won't have any other assets by that time and will probably be receiving benefits. But as a full-time student I'll have to stop receiving these benefits and the student loans and grant will be all I'll have to live on.
I believe the SLC pay the loans and grant into my account at the beginning of each term.
If may application for these loans and grants is successful, will the OR consider this money to be an asset and claim it all?
Since 1998 the Student Loan is considered separate and cannot be included in any bankruptcy and needs to be paid off in full. As such I wouldn't see it being a problem that you would be able to keep the loan as you would need it for food, accommodation, books, etc. anyway.
I'm going bankrupt in a few days
Posted - 18 April 2009 : 13:04:02
