62.—(1) Subject to paragraph (2), an old system student who qualifies for a grant for fees under Chapter 3 of Part 4 and who is under the age of 60 on the relevant date qualifies for a higher education bursary in accordance with his attendance on a designated course.
(2) If an old system student does not qualify for a grant for fees in respect of an academic year of the designated course, he cannot qualify for a higher education bursary for that year unless the reason that he does not qualify for a grant for fees is because—
(a)the year is an Erasmus year; or
(b)the designated course is an old flexible postgraduate course for the initial training of teachers.
(3) The amount of bursary payable in respect of any academic year shall be determined by reference to the household income ascertained under paragraph 3 of Schedule 5 in accordance with the following table—
| Residual Income (£) | Bursary (£) |
|---|---|
| Up to 11,570 | 2,000 |
| 11,571 to 12,000 | 1,925 |
| 12,001 to 13,000 | 1,755 |
| 13,001 to 14,000 | 1,580 |
| 14,001 to 15,000 | 1,405 |
| 15,001 to 16,000 | 1,235 |
| 16,001 to 17,000 | 1,060 |
| 17,001 to 18,000 | 905 |
| 18,001 to 19,000 | 760 |
| 19,001 to 20,000 | 620 |
| 20,001 to 21,000 | 475 |
| 21,001 to 22,000 | 330 |
| 22,001 to 23,000 | 185 |
| 23,001 to 23,135 | 165 |
| Over 23,135 | Nil |