Your composite living costs and variable expenditure are added together and balanced against your annual income. This is then divided over the appropriate number of weeks. An assumed income is added for single students and postgraduates. Assumed Income If you have no dependents, an assumed income is applied. This is intended as an average amount a student might have available over the year from part time earnings/student overdraft. The assumed income is £1869 per year, depending upon the amount of SFE support you receive, but only £623 in the final year of the course. If you work during term time or over the vacations, this is not counted in the calculation, only the assumed income. Therefore, even if you earn more than £1869 over the year, only the assumed income is counted. Certain types of income are disregarded, namely any grant or loan for tuition fees, an element of the Low Income Maintenance Grant or Special Support Grant, Disabled Students’ Allowances, Care Leaver’s Grant and certain disability benefits. For students starting in 2016 an element of the means-tested maintenance loan will be disregarded. Bursaries and Scholarships received under the University OFFA provisions will be partially taken into account. If you are unable to work due to a disability or other health problem, or due to high commitments, such as caring, the assumed income may be reduced or not applied at the assessor’s discretion. As a guide, the majority of applications are assessed over the following period: Single full-time undergraduates – 39 weeks Full-time undergraduates with dependent children – 43 weeks Full-time and part-time postgraduates – 52 weeks Part-time undergraduates – 39 weeks There will be some courses that are assessed over a different period of weeks. After applying the above calculation, any resulting shortfall is called an additional need. It is at the University’s discretion as to what percentage of any additional need is paid out and may vary from one academic year to the next. Percentages may drop later in the year as the Funds decrease, or if there is particularly high demand, or if the applicant is not in one of the priority groups. UNIVERSITY BURSARIES / SCHOLARSHIPS
Your composite living costs and variable expenditure are added together and balanced against your annual income. This is then divided over the appropriate number of weeks. An assumed income is added for single students and postgraduates. Assumed Income If you have no dependents, an assumed income is applied. This is intended as an average amount a student might have available over the year from part time earnings/student overdraft. The assumed income is £1869 per year, depending upon the amount of SFE support you receive, but only £623 in the final year of the course. If you work during term time or over the vacations, this is not counted in the calculation, only the assumed income. Therefore, even if you earn more than £1869 over the year, only the assumed income is counted. Certain types of income are disregarded, namely any grant or loan for tuition fees, an element of the Low Income Maintenance Grant or Special Support Grant, Disabled Students’ Allowances, Care Leaver’s Grant and certain disability benefits. For students starting in 2016 an element of the means-tested maintenance loan will be disregarded. Bursaries and Scholarships received under the University OFFA provisions will be partially taken into account. If you are unable to work due to a disability or other health problem, or due to high commitments, such as caring, the assumed income may be reduced or not applied at the assessor’s discretion. As a guide, the majority of applications are assessed over the following period: Single full-time undergraduates – 39 weeks Full-time undergraduates with dependent children – 43 weeks Full-time and part-time postgraduates – 52 weeks Part-time undergraduates – 39 weeks There will be some courses that are assessed over a different period of weeks. After applying the above calculation, any resulting shortfall is called an additional need. It is at the University’s discretion as to what percentage of any additional need is paid out and may vary from one academic year to the next. Percentages may drop later in the year as the Funds decrease, or if there is particularly high demand, or if the applicant is not in one of the priority groups. UNIVERSITY BURSARIES / SCHOLARSHIPS
Financial_Support_Fund_Guidance_Notes_June_2017.docx