Bursary+ Equity Table Calculations

This article will advise how the House Equity and Asset Equity tables provide the figure within the Bursary Summary on the student profile.

The method calculating the house assets value based on house equity is similar to how a progressive tax system works in a personal tax calculator. Different portions of the total amount are subject to different rates, and the final value is the sum of these calculations.

Example:
The parent has £345,000 in house equity => the house assets value is calculated based on the House Equity Table as below:

• First £100000 of £345000 => house assets value: 0% * £100000 = 0
• Next £50000 of £345000 (from £100000 to £150000) => house assets value = 1% * 50000 = £500
• Next £50000 of £345000 (from £150000 to £200000) => house assets value = 3% * 50000 = £1500
• Next £50000 of £345000 (from £200000 to £250000) => house assets value = 5% * 50000 = £2500
• Next £50000 of £345000 (from £250000 to £300000) => house assets value = 8% * 50000 = £4000
• Next £45000 of £345000 (from £300000 to £345000) => house assets value = 8% * 45000 = £3600

=> Final house assets value: 0 + 500 + 1500 + 2500 + 4000 + 3600 = £12100

Calculating assets equity is similar, parent has £140,669.94 in Assets grand total (bank accounts and others)

£50000 * 10% + £50000 * 20% + £40669,94*50% = £35334,97

Shown on the student profile - Bursary Summary: