Amounts of loans
7.—(1) Subject to paragraphs (2) to (5) the maximum amount which may be lent to an eligible student in relation to any one academic year of a course shall be—
(a)for a student who resides at the home of his parent, £2,325;
(b)for a student who does not reside at the home of his parent—
(i)if he attends a course provided by the University of London or by an institution within the area comprising the City of London and the metropolitan police district, £3,145;
(ii)otherwise £2,735.
(2) Subject to paragraphs (3) to (5) the maximum amount which may be lent to an eligible student in relation to an academic year which is the final year of a course other than an accelerated course shall be—
(a)for a student who resides at the home of his parent, £1,970;
(b)for a student who does not reside at the home of his parent—
(i)if he attends a course provided by the University of London or by an institution within the area comprising the City of London and the metropolitan police district, £2,565;
(ii)otherwise £2,265.
(3) Subject to paragraph (4) where the course which an eligible student attends includes a period of residence in a country other than the United Kingdom throughout the academic year, the maximum amount of the loan in relation to that academic year shall be £2,735 or if the year is the final year of the course £2,265.
(4) For the purposes of paragraphs (1) to (3) where a postgraduate course of initial training for teachers is of only one academic year’s duration that year shall not be treated as the final year of the course, and for the purposes of paragraphs (1) and (2), a student’s place of residence shall be his place of residence on the date of the certificate of eligibility given in relation to him.
(5) Where, in relation to an academic year, a student is eligible to receive any payment pursuant to any bursary or award of similar descripion made to him in pursuance of Article 44 of the Health and Personal Social Services (Northern Ireland) Order 1972 the amount of which is calculated by reference to his income then, unless the course he is attending leads to qualification as a medical doctor or as a dentist, paragraphs (1) to (3) shall have effect as if £1,000 had been deducted from each of the amounts referred to therein.