Regulation 53 Reduction for household income – students with full entitlement aged 60 or overI1

Subject to paragraph (3), the maximum loan entitlement of an eligible student described in regulation 43(1)(d) is reduced, if applicable, by the loan reduction value “LRV”.

For the purposes of paragraph (1), the LRV is £1 for every complete £4.16 by which the student’s household income exceeds £25,000.

Where the amount of loan for living costs is less than £50 after any reduction under paragraph (1), the amount of loan for living costs payable is nil.