householdincome

Household Income Assessment

Students from England

If you want to apply for 2016/17 student finance based on your household income, you and your sponsors (usually parents or partner) will need to provide your assessment authority with information about the household income from the 2014/15 tax year. The household income of parents (or partners) is taken into account as well as any taxable income the student has (excluding student earnings). Same sex partners' incomes are also taken into consideration. Using this information your assessment authority will carry out an assessment to work out what your residual household income is. It is this residual household income which determines the amount of funding you are eligible to receive.

Residual income is your household's gross income minus certain allowances.

As a guide, the allowances in 2016/17 are:

  • £1,130 for each financially dependent child other than the eligible student;
  • Pension schemes and superannuation payments eligible for tax relief;
  • £1,130 for parents who are also students.

If you want more information about the household income assessment process you should contact your assessment authority.

Current year income assessment

If your household income decreases significantly (usually by more than 15% from the 2014/15 tax year) then you can request that your assessment authority undertakes a current year income assessment. You (and your sponsors) will need to provide estimates of income for the 2016/17 tax year. Your student finance entitlement will be reassessed using the estimated figures.

Contact

You must contact your assessment authority if you have queries regarding the income assessment process, what income is counted or disregard and the level of household income which has been calculated for you.

Student Finance England - 0300 100 0607
Student Finance Northern Ireland - 0300 100 0077
Student Awards Agency for Scotland - 0300 555 0505
Student Finance Wales - 0300 200 4050
Student Finance EU Team - 0141 243 3570