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Current Year Income assessment

This information is for students. We also have information for parents and partners.

If you’re applying for student finance, we normally use your household income from the previous tax year to work out how much student finance you can get.

Academic year Tax year we use to calculate student finance If applying for a Current Year Income Assessment we also require this tax year estimates
2021 to 2022 2019 to 2020 2021 to 2022
2020 to 2021 2018 to 2019 2020 to 2021

However, we understand your household income might have changed significantly since then, for example because of the COVID-19 outbreak, or if your parent or partner has retired or got a different job.

If you expect your household income to drop by 15% or more compared to the tax year we'd normally use, your parents or partner can ask us to work out how much student finance you can get based on their estimated income for the current tax year instead.

Example: For the academic year 2021 to 2022, we could use an estimation of your household income for the 2021 to 2022 tax year.

Household income means the income of your parents or partner.

This information is for students. We also have information for parents and partners.

Who can apply

A current year income assessment means you could get more student finance, but it’s not right for everyone.

Your parents or partner should check to see if they can apply and whether it’s right for them. They can apply for a current year income assessment before or during the academic year.

If your household income was less than £25,000, you’ll already have been assessed for the maximum amount of funding, so there’s no need to ask for a current year income assessment.

But you might still be able to ask us for one if:

  • you need it to get more bursary or scholarship from your university or college
  • you have children or an adult who depends on you financially

This is because the household income threshold for bursaries and Dependants’ Grants can be lower than other types of student finance. You should check with your university or college before asking us for a current year income assessment.

Keeping their household income estimates up to date

Once they’ve applied, we’ll ask your parents or partner to provide updated estimates of their household income throughout the year. If there are changes to this, your student finance payments could change too.

When they provide their estimates, your payments might go up, but they might also go down. If your student finance changes, we’ll send you a new entitlement letter with the updated amount.

At the end of the tax year

We’ll send your parents or partner a form and ask them to provide evidence of their actual household income for the tax year.

Once they’ve submitted this, we’ll be able to check if the amount we gave you was correct. If their estimated household income is different to their actual household income and:

  • you got too much student finance, then you’ll be asked to pay it back as soon as possible.
  • you didn’t get enough student finance, then we’ll pay anything extra to you as soon as possible.

If they do not confirm their actual household income when we ask them to, we’ll reduce your student finance and you’ll be asked to pay some of it back.

If you’re going back to university or college next year

We’ll be able to use the information your parents or partner gave us again. We’ll ask their permission to do this at the end of the tax year.

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