Loan for living costs
If you start your course in 2018/19 or later, you are entitled to a loan for your living costs. The amount you receive is not affected by your household income, but is reduced by any amount of maintenance grant you are entitled to, pound for pound. Like other part-time support, your entitlement to a loan is based on a notional maximum figure, pro rata according to the intensity of study. The notional maximum loan amount in 2021/22 is £6,640.
1Reg 58 E(SS)(W) Regs Example
James is a part-time student at Trinity St David University, studying at 50 per cent intensity of a full-time course. His household income is £35,000 and he is not entitled to a special support payment. His entitlement to living costs support is calculated as follows.
Step one Calculate his base grant, based on the intensity of study.
£1,000 x 50 per cent intensity = £500
Step two Calculate his maintenance grant, based on his income and the intensity of study.
James’ income (£35,000) is £10,000 over the threshold of £25,000.
£10,000 divided by £6.84 (rounded down to nearest pound) = £1,461
Maximum maintenance grant of £5,000 – £1,461 = £3,539
£3,539 x 50 per cent intensity = £1,769.50
Step three Calculate his loan, based on the intensity of study and offset by his maintenance grant.
£6,640 x 50 per cent intensity = £3,320
£3,320 – £1,769.50 = £1,550.50
James’ total support = £500 base grant + £1,769.50 maintenance grant + £1,550.50 living costs loan = £3,820