SCHEDULE 4FINANCIAL ASSESSMENT

Calculation of contribution – old system students

8.—(1) The contribution payable in relation to an old system student who is not an independent eligible student or is an independent eligible student with a partner is—

(a)in any case where the household income is £23,660 or more, £45 with the addition of £1 for every complete £9.50 by which the household income exceeds £23,660; and

(b)in any case where the household income is less than £23,660, nil.

(2) The contribution payable in relation to an old system student who is an independent eligible student without a partner is—

(a)in any case where the household income is £11,020 or more, £45 with the addition of £1 for every complete £9.50 by which the household income exceeds £11,020; and

(b)in any case where the household income is less than £11,020, nil.

(3) The amount of the contribution payable under sub-paragraph (1) or (2) must in no case exceed £7,795.

(4) The contribution may be adjusted in accordance with paragraph 10, 11 or 12.

(5) Where sub-paragraph (6) applies, the aggregate contributions must not exceed £7,795.

(6) This sub-paragraph applies where—

(a)a contribution is payable in relation to two or more eligible students (other than current system students) in respect of the same income under paragraph 5 or, where the relevant parent’s partner’s residual income is taken into account, under paragraphs 5 and 7; or

(b)the household income consists of the residual income of an independent eligible student and his partner where both hold a statutory award.