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[F1SCHEDULE 5E+WFINANCIAL ASSESSMENT

Textual Amendments

Calculation of contribution — new system eligible studentsE+W

9.(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 [F2£39,778], £1 for every [F3£8.97] by which the household income exceeds [F2£39,778]; and

(b)in any case where the household income is [F4£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 [F5£50,753], £1 for every £5 by which the household income exceeds [F5£50,753]; and

(b)in any case where the household income is [F6£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 [F7£50,488], £1 for every £5 by which the household income exceeds [F7£50,488]; and

(b)in any case where the household income is [F8£50,488] 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.]