SCHEDULE 4FINANCIAL ASSESSMENT
Calculation of contribution – old system students8
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.