Decision Makers Guide - DMG39306

Calculation of weekly income from student loans

For applications where DMG39304 does not apply, the decision maker should calculate the weekly amount of student loan where

• the student is not in the final year of the course, and

• the course lasts for more than one year

as follows:

1) follow steps 1 to 2 in DMG39304

divide the balance by 3 to give the amount payable in each instalment

determine the number of days in the quarter or period in which the application was received Note If the application is received in the quarter or period in which the longest vacation falls, there will be no instalment payable for this period. There will be no student loan income to take into account.

4) divide the figure at 2 by the number of days at 3 and multiply by 7 to give the weekly amount of a student loan.