What Difference Does Income Assessment Make?

By Phil Davis

When applying for student finance, you can maximise the funding you receive by following the prompts on the on-line application form to apply for student finance that is ‘based on your household income’ or is ‘income assessed’.

The basic student finance package, which you get if you meet the basic eligibility criteria (which is three years’ ordinary residence, studying a ‘designated course’, at a qualifying educational establishment) is usually made up of the Tuition Fee Loan and the non-income-assessed Maintenance Loan.

The following tables illustrate how much additional income is available through income assessment. The tables are based on student finance for students ordinarily resident in England starting their course in 2016/17.

The tables show rates for students who do not qualify for welfare benefits during term time, and include suggested amounts of ‘household contribution’ to be paid (by parents/partner) to the student to supplement the Maintenance Loan. The Maintenance Loan figures in bold illustrate the income range which benefits from income-assessment, over and above the basic student finance package.

Parental Home Rate
Household Income: Maintenance Loan Payable Recommended Household Contribution Total
£25,000 £6,904 £0 £6,904
£30,000 £6,322 £0 £6,322
£35,000 £5,740 £0 £5,740
£40,000 £5,158 £0 £5,158
£42,875 £4,824 £0 £4,824
£45,000 £4,576 £248 £4,824
£50,000 £3,994 £830 £4,824
£55,000 £3,412 £1,412 £4,824
£58,201 (+) £3,039 £1,875 (max) £4,824
Elsewhere (outside London) Rate
Household Income: Maintenance Loan Payable Recommended Household Contribution Total
£25,000 £8,200 £0 £8,200
£30,000 £7,612 £0 £7,612
£35,000 £7,023 £0 £7,023
£40,000 £6,434 £0 £6,434
£42,875 £6,095 £0 £6,095
£45,000 £5,845 £250 £6,095
£50,000 £5,256 £839 £6,095
£55,000 £4,667 £1,428 £6,095
£60,000 £4,078 £2,017 £6,095
£62,180 (+) £3,821 £2,274 (max) £6,095
London Rate
Household Income: Maintenance Loan Payable Recommended Household Contribution Total
£25,000 £10,702 £0 £10,702
£30,000 £10,103 £0 £10,103
£35,000 £9,503 £0 £9,503
£40,000 £8,904 £0 £8,904
£42,875 £8,559 £0 £8,559
£45,000 £8,304 £255 £8,559
£50,000 £7,705 £854 £8,559
£55,000 £7,105 £1,454 £8,559
£60,000 £6,506 £2,053 £8,559
£65,000 £5,906 £2,653 £8,559
£69,803 £5,330 £3,229 (max) £8,559

The full range of tables showing rates for students eligible to receive benefits during study, and for those aged 60 or over at the start of their course is available from the Department for Business, Innovation, and Skills.