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Document How is my student loan calculated in the assessment?

If a student is eligible for a student loan, the Income Support (General) Regulations state that we must take into account the full amount of non-means tested and means tested elements that are available, whether a student applies for it or not. If an assessed contribution is to be made towards the loan, we also take that assessed contribution into account. This means that we take the same amount of loan into account for students studying the same number of classroom weeks regardless of their financial background.

Non-means tested element

This is the basic student loan that you're entitled to without you, your parent(s) / guardian(s) or your partner having to undergo a financial assessment. This can also be called 'non-income related part' or 'loan not based on household income'.

Means tested element

This is an additional element of the student loan that you may be entitled to if you elect for you, your parent(s) / guardian(s) or your partner to undergo a financial assessment. This can also be called 'income related part' or 'loan based on household income'.

Standard Calculation

Student not in their final year: Full loan available minus a standard deduction for books and travel, the remainder apportioned over 52 weeks equals the weekly amount used in an assessment.
 
Student in their final year: Full loan available minus a standard deduction for books and travel, the remainder apportioned over a period determined by when your academic year begins, where you make the claim from, where you study and the course you are studying equals the weekly amount used in an assessment.

 

Further Information

The amount for books and travel are set by Government legislation and cannot be increased to account for expenses that are unique to your course of study. The standard travel deduction is £303.00 whilst the standard books and equipment deduction is £390.00.

We won't use any childcare award you receive in our assessment, this amount will be disregarded.




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