Means Testing for student maintenance loan
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Hi, I know that the maintenance loan is means tested on family income, and I know that it is based on pre-tax income too. But what I cannot find is how the self employed are means tested, is it on turnover or profit. Also - re-rental payments. Is it based on the income received before expenses are deducted or after EG: £500/m rent received. Expenses are £200 so the actual earning is £300. Can anyone help me with this, please?
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Whether the student is a child or partner/spouse changes what counts towards the household income calculation.
If the student is also a partner/spouse rather than a child, then any income from their self employment is not counted towards the household income calculation.