SCHEDULE 4FINANCIAL ASSESSMENT

F1Calculation of contribution for loans for living costs – 2016 cohort students

9A.

(1)

In relation to a 2016 cohort student who satisfies all the conditions in regulation 71(1)(g) or 71(1)(h), there is a contribution payable for the loan for living costs.

(2)

In relation to a 2016 cohort student who satisfies all the conditions in regulation 71(1)(g), the contribution payable, subject to paragraph 10, in any case where—

(a)

the household income exceeds £42,875 is equal to X – Y and—

(i)

for a student in category A, X is £1 for every complete F2£7.88 by which the student’s household income exceeds £25,000 and Y is F2£2,268;

(ii)

for a student in category B, X is £1 for every complete F3£7.66 by which the student’s household income exceeds £25,000 and Y is F3£2,333;

(iii)

for a student in category C, X is £1 for every complete F4£7.72 by which the student’s household income exceeds £25,000 and Y is F4£2,315;

(iv)

for a student in category D, X is £1 for every complete F5£7.79 which the student’s household income exceeds £25,000 and Y is F5£2,294;

(b)

the household income does not exceed £42,875 is nil.

(3)

In relation to a 2016 cohort student who satisfies all the conditions in regulation 71(1)(h), the contribution, subject to paragraph 10, in any case where—

(a)

the household income exceeds £42,875 is equal to—

(i)

for a student in category A, £1 for every complete F6£7.88 by which the student’s household income exceeds £42,875;

(ii)

for a student in category B, £1 for every complete F7£7.66 by which the student’s household income exceeds £42,875;

(iii)

for a student in category C, £1 for every complete F8£7.72 by which the student’s household income exceeds £42,875;

(iv)

for a student in category D, £1 for every complete F9£7.79 by which the student’s household income exceeds £42,875;

(b)

the household income does not exceed £42,875 is nil.

(4)

In relation to a 2016 cohort student who satisfies both the conditions in regulation 71(1)(i), no contribution is payable.

(5)

Categories A to D have the meaning given in regulation 90.