SCHEDULE 5FINANCIAL ASSESSMENT
Calculation of contribution – new system eligible students9
1
Where the eligible student is a new system eligible student who is not a new cohort student, the contribution payable is—
a
in any case where the household income exceeds £39,778, £1 for every £8.97 by which the household income exceeds £39,778; and
b
in any case where the household income is £39,778 or less, nil.
2
Where the eligible student is a new system eligible student who is a 2010 cohort student or a 2012 cohort student, the contribution payable is—
a
in any case where the household income exceeds £50,753, £1 for every £5 by which the household income exceeds £50,753; and
b
in any case where the household income is £50,753 or less, nil.
3
Where the eligible student is a new system eligible student who is a 2011 cohort student, the contribution payable is—
a
in any case where the household income exceeds £50,448, £1 for every £5 by which the household income exceeds £50,448; and
b
in any case where the household income is £50,448 or less, nil.
4
The contribution must not in any case exceed £6,208.
5
The contribution may be adjusted in accordance with paragraph 10.
6
Where sub-paragraph (7) applies, the aggregate contributions must not exceed £6,208.
7
This sub-paragraph applies where—
a
a contribution is payable in relation to two or more eligible students (other than old system eligible 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 the independent eligible student’s partner where both hold a statutory award.