For the purposes of ascertaining income F1other than grant income, covenant income and loans treated as income in accordance with regulation 42A, any amounts intended for any expenditure specified in regulation 38(2) (calculation of grant income) necessary as a result of his attendance on the course shall be disregarded but only if, and to the extent that, the necessary expenditure exceeds or is likely to exceed the amount of the sums disregarded under regulation 38(2) F2and (2A), 39(3) F3, 40(1)(a) or (b) and 42A(5) (calculation of grant income, covenant income and treatment of student loans) on like expenditure.