Data set from Student loan forecasts for England

Table 3: Forecast loan outlay, repayments, capitalised interest accrued by borrowers & cancelled loans by product

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Forecast loan outlay, repayments, capitalised interest accrued by borrowers & cancelled loans by product.

Data set details

Theme
Finance and funding
Publication
Student loan forecasts for England
Release
Financial year 2024-25
Release type
Number of rows
102
Geographic levels
National
Indicators
  • Loan outlay
  • Repayments
  • Capitalised interest
Filters
  • Plan type of loan
  • Loan type
Time period
2024-25 to 2029-30

Data set preview

Table showing first 5 rows, from underlying data
plan_typeloan_typeoutlay_£mrepayments_£mcapitalised_interest_£mcancelled_loans_£mtime_periodtime_identifiergeographic_levelcountry_codecountry_name
Plan 1Plan 1 loanslow176546525202425Financial yearNationalE92000001England
Plan 1Plan 1 loansz161529545202526Financial yearNationalE92000001England
Plan 1Plan 1 loansz147027550202627Financial yearNationalE92000001England
Plan 1Plan 1 loansz133025555202728Financial yearNationalE92000001England
Plan 1Plan 1 loansz123522560202829Financial yearNationalE92000001England

Variables in this data set

Table showing first 5 of 6 variables
Variable nameVariable description
cancelled_loans_£mCancelled loans
capitalised_interest_£mCapitalised interest
loan_typeLoan type - Filter by loan type
outlay_£mLoan outlay
plan_typePlan type of loan - Filter by plan type

Footnotes

  1. 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 (opens in a new tab).
  2. The outlay model only forecasts students as receiving loans up to six years after entering higher education; therefore, no Plan 1 outlay is forecast. However, there are some exceptional cases where students may still be paid a Plan 1 loan across our forecast horizon, for example, if they had suspended their studies.
  3. Financial year 2024-25 outlay figures are actuals as published by the Student Loans Company (https://www.gov.uk/government/statistics/student-loans-in-england-2024-to-2025 (opens in a new tab)) with the exception of Advanced Learner Loans Plan 2 and Plan 5 outlay.
  4. A summary timeline of the introduction of different plan types is available in Table 1.1 in the publication Methodology: https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology
  5. Repayment forecasts assume that PAYE obligatory repayments are made in the same year in which the borrower had the income on which they are based. In reality, some repayments made through PAYE will be received the following year, particularly repayments based on earnings in the final month of the year.
  6. 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).
  7. No overpayments or refunds are modelled for borrowers that fully repay their loans; it is assumed that all borrowers finish making repayments once their loan balance reaches £0. In reality, some borrowers overpay their loans, particularly if making repayments via HMRC, and are entitled to receive refunds.
  8. The first Plan 2 borrowers became liable to make repayments in 2016-17. The earliest master's loan borrowers became liable to make repayments in 2019-20 and doctoral loan borrowers in 2020-21. For modelling purposes, it is assumed the first Plan 5 borrowers will become liable to repay the first April after finishing or withdrawing from their course. This is a slight simplification – liability for Plan 5 repayments starts in April 2026, so some additional repayments will be forecast. The impact on the forecast for the overall loan system is minimal.
  9. Outlay, repayments, capitalised interest and cancelled loans figures have been rounded to the nearest £5 million.
  10. Where you see the symbol 'z' this means not applicable. For example, there are no ALL Plan 2 borrowers modelled after 2024/25.
  11. Where you see ‘low’, this refers to figures which round to 0, but are not 0.

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