If you want to apply for 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. 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 2012/13 are:
If you want more information about the household income assessment process you should contact your assessment authority.
Student Finance England - 0845 300 5090
Student Finance Northern Ireland - 80845 600 0662
Student Awards Agency for Scotland - 0300 555 0505
Student Finance Wales - 0845 602 8845
Student Finance EU Team - 0141 243 3570