SCHEDULE 5FINANCIAL ASSESSMENT
Calculation of contribution — old system eligible studentsI18
1
The contribution payable in relation to an old system eligible student who is not an independent eligible student or an old system eligible student who is an independent eligible student with a partner is—
a
in any case where the household income is £23,680 or more, £45 with the addition of £1 for every £8.78 by which the household income exceeds £23,680; and
b
in any case where the household income is less than £23,680, nil.
2
The contribution payable in relation to an old system eligible student who is an independent eligible student without a partner is—
a
in any case where the household income is £11,025 or more, £45 with the addition of £1 for every £8.61 by which the household income exceeds £11,025; and
b
in any case where the household income is less than £11,025, nil.
3
The amount of the contribution payable under sub-paragraph (1) or (2) must in no case exceed £7,992.
4
The contribution may be adjusted in accordance with paragraph 10.
5
Where sub-paragraph (6) applies, the aggregate contributions must not exceed £7,992.
6
This sub-paragraph applies where—
a
a contribution is payable in relation to two or more eligible students (other than new 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.