UK Students
If your household income has reduced by more than 15% compared to that which was assessed when you applied for funding for academic year 22-23 you can apply now for a current year income assessment. This will look at a forecast of your household income for the tax year 6th April, 2022 to 5th April, 2023. If your income is reassessed and results in a lower figure, your Cambridge Bursary award will be increased retrospectively for the whole year and paid to you in Easter Term. The closing date for reassessments is 30th June 2023 so you should act immediately if you want to be reassessed for the current year.
You (or your parents) will need to fill in a Current Year Income Assessment form for 22-23 and the form you need will depend on who is your regional funding body (Student Finance England, Wales or Northern Irelend). Links to all the forms can be found on Student Finance England's Website: https://www.gov.uk/guidance/guidance-for-current-students#my-parentpartner-has-recently-lost-their-job-how-will-this-affect-my-student-finance
All new students and some returning students are required to submit financial information relating to tax year 2020-21 to support their application for funding for academic year 2022-23. This is still the case even if you intend to apply for a current year income assessment because your household income has dropped. You must complete the standard application for either new or returning students before completing the current year income assessment.
Once you have completed the standard form you can go to https://www.gov.uk/guidance/guidance-for-current-students#my-parentpartner-has-recently-lost-their-job-how-will-this-affect-my-student-finance and complete the appropriate form for your regional funding body to request a current year income assessment.
EU Students
Only UK students are eligible for a current year income assessment, but EU students can apply to be assessed on the most recent complete tax year. For second year students this would be the year after the one for which you originally supplied income details and for third year students it would be the year two years after the one you originally supplied income details for. If you are still in your first year there will be no more recent year available on which you can be assessed so you would need to wait until applications open for funding for your second year to request reassessment.
If there is a more recent tax year on which you could be assessed and you can show your household income has dropped by more than 15% between that year and the one on which you were originally assessed then please contact the Cambridge Bursary Administrator to start the reassessment process.