Table 9: Average loan balance at Statutory Repayment Due Date (SRDD), average loan balance at SRDD in FY2022-23 prices, average lifetime repayments in FY2022-23 prices, median years liable to repay, and proportion of loan outlay repaid in real terms of undergraduate borrowers, by lifetime decile
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Average loan balance at Statutory Repayment Due Date (SRDD), average loan balance at SRDD in FY2022-23 prices, average lifetime repayments in FY2022-23 prices, median years liable to repay, and proportion of loan outlay repaid in real terms of undergraduate borrowers, by lifetime decile
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2022-23
- Release type
- Geographic levels
- National
- Indicators
- Average lifetime repayments (in FY22-23 prices)
- Average loan balance at SRDD (in FY 22-23 prices)
- Average loan balance at SRDD (nominal)
- Filters
- Lifetime Earnings Decile
- Time period
- 2022/23 to 2023/24
Data set preview
| lifetime_earnings_decile | average_loan_balance_at_srdd_nominal | average_loan_balance_at_srdd_in_fy2223_prices | average_lifetime_repayments_in_fy2223_prices | median_years_liable_to_repay | proportion_of_outlay_repaid_real_terms | time_period | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|---|---|
| Entire cohort | 45600 | 36900 | 24700 | 30 | 72 | 202223 | Academic year | National | E92000001 | England |
| 1 | 44400 | 36000 | 2200 | 30 | 7 | 202223 | Academic year | National | E92000001 | England |
| 2 | 45700 | 37000 | 5400 | 30 | 16 | 202223 | Academic year | National | E92000001 | England |
| 3 | 44000 | 35600 | 8900 | 30 | 27 | 202223 | Academic year | National | E92000001 | England |
| 4 | 44500 | 36100 | 13400 | 30 | 40 | 202223 | Academic year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| average_lifetime_repayments_in_fy2223_prices | Average lifetime repayments (in FY22-23 prices) |
| average_loan_balance_at_srdd_in_fy2223_prices | Average loan balance at SRDD (in FY 22-23 prices) |
| average_loan_balance_at_srdd_nominal | Average loan balance at SRDD (nominal) |
| lifetime_earnings_decile | Lifetime Earnings Decile - Filter by lifetime earnings decile |
| median_years_liable_to_repay | Median years liable to repay |
Footnotes
- Coverage: Borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England.
- Monetary figures have been rounded to the nearest £100.
- Averages are taken over loans (rather than over borrowers).
- Plan 2 figures include full time and part time Plan 2 loans. Similarly Plan 5 figures include full time and part time Plan 5 loans.
- These deciles do not align with earnings deciles for the population in general.
- For higher earnings deciles the Plan 5 figures for 'proportion of outlay repaid in real terms' slightly exceed 100% even though interest is set in line with RPI. This is because the interest is set to RPI on a 1 year lag whereas discounting is based on unlagged RPI.
- Loan borrowers normally become liable to begin repaying a loan at the start of the tax year (6 April) after graduating or otherwise leaving their course, this point is known as their Statutory Repayment Due Date (SRDD). After their SRDD, borrowers are required to make repayments if their income is above the repayment threshold.
- Years liable to repay measures the time between SRDD and either loan write-off or the loan being fully repaid.
- Lifetime earnings are considered as all earnings between SRDD and 50 years after SRDD, normalised using average earnings growth indices.
- Values in 2022-23 prices have been calculated using OBR forecasts for RPI.
- A summary timeline of introduction of different plan types is available in table 1.1 in the Methodology. https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology
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