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Student Finance Confusion Current Year Income

Okay, so I'm providing financial info for my daughter's application. I have my 2019/20 self assessment info and I just completed and submitted my 2020/21 self assessment. I've earned significantly less in 20/21 than I did in 19/20. I know I need to provide the 2019/20 income initially, but then instead of asking for the 2020/21 figure or estimate, SFE says that I should estimate the 2021/22 figure. This makes no sense. What about the actual 2020/21 income. I have that as a reliable figure and would like to use that. It's like they've skipped a year. Please help me understand! Here's their info:
https://media.slc.co.uk/sfe/currentyearincome/index.html

Reply 1

SFE Isaac

Official Rep

Original post by Rooftops

Hi there, apologies for the delayed response.

We can't take the 20/21 income for 21/22 academic year applications. We take the previous tax year information from when the applications launched in March, which was the 19/20 tax year information. We can accept current year income which would be for the 21/22 tax year.

If your household income has dropped by more than 15% then you can complete a Current Year Income form to provide your estimated 2021/22 tax year income. If you do this, it's important you update us if your income changes throughout the year because at the end of the tax year we will ask you to provide the actual income you earned with evidence and if your actual income doesn't match the estimated income you provided then it could cause the student to be overpaid and be required to pay money back. You can download this form and find out more information by clicking here https://media.slc.co.uk/sfe/currentyearincome/index.html
Thanks, Isaac