Table 7a: Sensitivity of Resource Accounting and Budgeting (RAB) charges and stock charges to key economic inputs
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Sensitivity of Resource Accounting and Budgeting (RAB) charges and stock charges to key economic inputs
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2023-24
- Release type
- Geographic levels
- National
- Indicators
- Current forecast
- Discount rate 0.2pp higher and average earnings growth 1pp higher each year upto 2030
- Discount rate 0.2pp higher and average earnings growth 1pp lower each year upto 2030
- Filters
- Stock or RAB charge
- Plan type of loan
- Loan type
- Time period
- 2023-24
Data set preview
| plan_type | loan_type | stock_rab | baseline_charge | dr_+0.2pp_average_earnings_+1pp_to_2030 | dr_+0.2pp_average_earnings_-1pp_to_2030 | dr_-0.2pp_average_earnings_+1pp_to_2030 | dr_-0.2pp_average_earnings_-1pp_to_2030 | rpi_and_rpix_+1pp | rpi_and_rpix_+2pp | rpi_and_rpix_-1pp | rpi_and_rpix_-2pp | time_period | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Plan 1 | Plan 1 loans | Stock | 51 | -2 | 3 | -3 | 2 | 5 | 9 | -5 | -10 | 202324 | Financial year | National | E92000001 | England |
| Plan 2 | Higher education full time | Stock | 35 | -4 | 5 | -5 | 4 | 11 | 21 | -12 | -24 | 202324 | Financial year | National | E92000001 | England |
| Plan 2 | Higher education full time | RAB | 30 | -4 | 5 | -5 | 4 | 14 | 26 | -14 | -27 | 202324 | Financial year | National | E92000001 | England |
| Plan 2 | Higher education part time | Stock | 26 | -3 | 5 | -4 | 3 | 11 | 20 | -9 | -18 | 202324 | Financial year | National | E92000001 | England |
| Plan 2 | Higher education part time | RAB | 24 | -3 | 5 | -5 | 3 | 13 | 25 | -12 | -21 | 202324 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| baseline_charge | Current forecast |
| dr_-0.2pp_average_earnings_-1pp_to_2030 | Discount rate 0.2pp lower and average earnings growth 1pp lower each year upto 2030 |
| dr_-0.2pp_average_earnings_+1pp_to_2030 | Discount rate 0.2pp lower and average earnings growth 1pp higher each year upto 2030 |
| dr_+0.2pp_average_earnings_-1pp_to_2030 | Discount rate 0.2pp higher and average earnings growth 1pp lower each year upto 2030 |
| dr_+0.2pp_average_earnings_+1pp_to_2030 | Discount rate 0.2pp higher and average earnings growth 1pp higher each year upto 2030 |
Footnotes
- Coverage: All borrowers who receive loans through Student Finance England. For further details on eligibility, please see the Student Finance England practitioner website: https://www.practitioners.slc.co.uk/products.
- 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
- Plan 1 loans include unsold, retained and loans sold at both sale 1 and sale 2. For more information on the loan sales, go to: Sale 1: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2017-12-06/HCWS317 (opens in a new tab) Sale 2: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137 (opens in a new tab).
- Changes to the HMT discount rate, and to earnings growth have applied from 2023-24, to 2029-30. Rates return to the baseline assumptions from 2030-31 onwards.
- RPI changes are assumed to begin in financial year 2024-25 onwards.
- This table demonstrates how sensitive the RAB and stock charges are to various economic parameters. The size of the impacts presented here only applies to the figures shown and the results are not linear; that is if the size of the variation was doubled then the impact would not necessarily be double that shown.
- Differences in the impacts between different loan products in the same scenario may be due to differences in the loan policy or differences in the characteristics of the borrowers with each type of loan.
- RAB and stock charge have been rounded to the nearest 1%.
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