Effect of ACCA on Student finance eligibility

Hi, i am struggling to find some concrete information on whether pursuing ACCA will exclude me for applying for student finance for my under grad degree in future (Under the ELQ rule) Please If anyone could guide me i will appreciate it, Thanks
I have tried contacting student finance but they do not seem to know what ACCA is, i just want to be sure as you only get 1 chance to finance a degree. So far i have done (8/13) exams and i am hesitant to do the 9th as on ACCA website they claim it is equal to level 6 which theoretically makes it equal to a bachelors degree. Kindly guide me any one from SFE

Hi there,
Can you confirm what ACCA is?
Thanks,
Ross

Hi Ross,
ACCA is a professional qualifications "Association of Chartered Certified Accountants" just like ACA. It has 13 exams on their website they break it down as. If you have done 3 exams it is equivalent to level 4, if you have done 9 exams it is equivalent to level 6 and if you have done all 13 exams it is equivalent to level 7.
They claim it is 'broadly' equivalent to a bachelor's degree. They have a level 4 qualifications recognized by Ofqual as RQF level 4. But that's it, if you finish first 9 papers they give you an "Advanced diploma in Business & Accounting".
I am worried about this as I have done 8 exams and about to do 9th but if I get this advanced diploma I do not want to ruin my chances for undergrad finance in future which I am looking to apply for in 2 years.
Please guide me, thanks

Hi there, Student Finance do not provide funding for Professional Qualification courses, these include -
Hope this helps.
Thanks, Angela

Hi Angela, i understand that one does not get finance for professional qualifications.
What i am confused about it, if one has professional qualification ACCA specifically. Will they be in eligible for student Finance under ELQ rule. As ACCA issues an Advanced Diploma in Accounting & Business and lists it as equivalent to level 6. As well as like i mentioned above claims it is "broadly" equivalent to a degree.
I want to apply for undergrad funding in future but i cannot find a solid concrete answer whether doing this level 6 qualification will make me in eligible for BA/BSc funding at a Uni.

Hi there,
Angela did confirm we would not be able to offer funding if you hold an ACCA.
Thanks,
Ross

Hi Ross,
Sorry, but can you have a look at it again she has written that "Student Finance do not provide funding for Professional Qualification courses, these include".
To my understanding she has made clear there is no funding for these courses, but not whether funding for BA/BSc is available for holders of these qualifications.
Kindly confirm please. Thanks

Hi there,
You would not get the funding as it would be blocked due to ELQ.
Thanks,
Ross

Hi Ross, thanks for confirming.
I had a further question, if ACCA is not eligible for student finance than why is it considered when it comes to ELQ. I have attached this link of another forum where one of your colleague answered about CIMA (Similar to ACCA) that it is not considered under ELQ:
https://www.thestudentroom.co.uk/showthread.php?t=7043766
Can you please double check this for me or ask another assessor, i will be very grateful.
And if you still get the same response from them, does it mean one will be excluded if they only pass exams till level 6. If they stop before that they will still be eligible. Right ?
Sorry for pestering but this decision is really important for me. Thanks

Okay thanks Ross.
And that will be only if one completes level 6, right ?
If one does not complete level 6 and only does some exams of it, than ?
And another question according to Gov UK website with the introduction of LLE rom 2025, ELQ rule will be dropped. Do you have any updates on that ? And as per your knowledge ELQ rule will be dropped completely or with certain conditions.
Thanks

Hi,
Nothing with LLE has been fully confirmed as of yet so I am personally unsure when it comes to that at this moment in time.
As long as you don't hold an ELQ you could qualify for support.
Thanks
Ross

Thanks Ross,
If i ask do you guys have a list of qualifications that fall under ELQ, Published online.
And CIMA/ACA which are very similar to ACCA. Do they also fall under AQA?.
Thanks for your patience & helpful answers.

Thanks Ross,
If i ask do you guys have a list of qualifications that fall under ELQ, Published online.
And CIMA/ACA which are very similar to ACCA. Do they also fall under AQA?.
Thanks for your patience & helpful answers.

If it's an ELQ it will be blocked. So if you do a level 6 this is the equivalent of:

Thanks,
Ross

Thankyou Ross, i understood your point. I appreciate your help.
But can you please explain why there is conflicting info from your colleagues in the below threads:
https://www.thestudentroom.co.uk/showthread.php?t=7043766
https://www.thestudentroom.co.uk/showthread.php?t=5004100
Regards.

Hi there, I can see the previous posts are from a number of years ago, eligibility criteria can change. The information provided today is correct. Thanks, Angela

Hi Angela, i just spoke to someone on phone at SFE. And after searching their system they told me that ACCA is not listed on their qualification's and as it is a professional qualification so it is most likely exempt from ELQ. I am not sure what to make of it.
Can you please check your systems for me or ask a senior accessor. I will be very grateful.