SCHEDULE 5FINANCIAL ASSESSMENT

Calculation of contribution – old system students

8.—(1) The contribution payable in relation to an old system student who is not an independent eligible student is—

(a)in any case where the household income is £24,275 or more, £45 with the addition of £1 for every complete £12.50 by which the household income exceeds £24,275; and

(b)in any case where the household income is less than £24,275, nil.

(2) The contribution payable in relation to an old system student who is an independent eligible student with a partner is—

(a)in any case where the household income is £24,275 or more, £45 with the addition of £1 for every complete £9.50 by which the household income exceeds £24,275; and

(b)in any case where the household income is less than £24,275, nil.

(3) 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 £11,305 or more, £45 with the addition of £1 for every complete £9.50 by which the household income exceeds £11,305; and

(b)in any case where the household income is less than £11,305, nil.

(4) The amount of the contribution payable under sub-paragraph (1) or (2) must in no case exceed £8,565.

(5) The contribution may be adjusted in accordance with paragraph 10.

(6) Where sub-paragraph (7) applies, the aggregate contributions must not exceed £8,565.

(7) 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 the student’s partner where both hold a statutory award.