Parent63
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I understand that Student finance for 2014/15 is based on P60 for 2012/13.

a) What if the earnings for 2014/15 are expected to be higher ?

b) what if the earnings for 2013/14 actually were higher ?

Does this have to be declared at some point, which would change the award?

Similarly if parents living arrangements change, eg single mum moves in with partner after the award made, does this have to be declared, and the award then changed due to higher household income?

many thanks
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Mark Lee - SFE Official Adviser
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Hi,

That's correct, student finance for the 14/15 academic year is normally based on the 12/13 tax year.

If you estimate your earnings throughout the 14/15 tax year to be higher by 15% or more than the 12/13 tax year, then you can complete a Current Year Income form based on what you think you will earn throughout this tax year. The 13/14 tax year would not be considered for the 14/15 academic year at all.

You would also need to declare if the sponsor(s) living arrangements change and if they now have a partner whom they live with, their income would also be taken into account.

Thanks.
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Parent63
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(Original post by Mark Lee - SFE Official Adviser)
Hi,

That's correct, student finance for the 14/15 academic year is normally based on the 12/13 tax year.

If you estimate your earnings throughout the 14/15 tax year to be higher by 15% or more than the 12/13 tax year, then you can complete a Current Year Income form based on what you think you will earn throughout this tax year. The 13/14 tax year would not be considered for the 14/15 academic year at all.

You would also need to declare if the sponsor(s) living arrangements change and if they now have a partner whom they live with, their income would also be taken into account.

Thanks.
Hi Mark

thankyou for your reply.

so to clarify;

Once student finance is awarded for 2014/15 (based on P60 for 12/13) there is no obligation whatsoever to notify SFE of an upward trend in earnings/household income due to pay rises/return to work ?

However if the household income increases as a result in a change in the sponsors living arrangements then this MUST be declared and would result in the award being reduced ?

many thanks
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Mark Lee - SFE Official Adviser
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Hi

yes if the assessment has been carried out on the 12/13 household income and your income from the current year increases then you would not need to provide details to SFE as we assess the 12/13 year.

If the sponsor's living arrangements change e.g. you are a single person and then move into your parnter's house you would be required to provide evidence of this change to your household income.
This would also apply if you are married and then become separated you would be able to provide evidence of this and we would re-assess your household income.
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