PART 6Assessment of household income and capital
CHAPTER 4Unearned income
Calculation of student income for an assessment period62.
The amount of an applicant’s student income in relation to each assessment period in which the applicant is to be treated as having student income in accordance with regulation 59(1) is calculated as follows—
Step 1
Determine whichever of the following amounts is applicable—
(a)
in so far as regulation 59(2) applies to an applicant with a student loan, the amount of the loan (and, if applicable, the amount of any grant) in relation to the year of the course in which the assessment period falls,
(b)
in so far as regulation 59(2) applies to an applicant with a postgraduate master’s degree loan, 30 per cent of the amount of the loan in relation to the year of the course in which the assessment period falls, or
(c)
if regulation 59(4) applies (applicant with a grant but no student loan or postgraduate master’s degree loan) the amount of the grant in relation to the year of the course in which the assessment period falls.
But if the period of the course is less than a year determine the amount of the grant or loan in relation to the course.
Step 2
Determine in relation to—
(a)
the year of the course in which the assessment period falls, or
(b)
if the period of the course is less than a year, the period of the course,
the number of assessment periods for which the applicant is to be treated as having student income.
Step 3
Divide the amount produced by step 1 by the number of assessment periods produced by step 2.
F1Step 4
Where an applicant—
(a)
has an award of universal credit, deduct £110 for each assessment period,
(b)
does not have an award of universal credit, deduct £27.50 for each week in the assessment period.