Table 4b: Forecast Resource Accounting and Budgeting (RAB) charge, by loan product
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Forecast Resource Accounting and Budgeting (RAB) charge, by loan product
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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
- RAB charge
- Filters
- Plan type of loan
- Loan type
- Time period
- 2023-24 to 2028-29
Data set preview
| plan_type | loan_type | time_period | rab_charge | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|
| Plan 1 | Plan 1 loans | 202324 | z | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202425 | z | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202526 | z | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202627 | z | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202728 | z | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| loan_type | Loan type - Filter by loan type |
| plan_type | Plan type of loan - Filter by plan type |
| rab_charge | RAB charge |
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).
- Forecasts for full-time, part-time undergraduate and Advanced Learner Loans Plan 5 borrowers starting in academic year 2023-24, will be for borrowers in their first year of study only. Forecasts for other plan types or in other years will contain a mix of borrowers’ years of study.
- The RAB charge is the proportion of loan outlay made during the year that we expect not to be repaid when future repayments are valued in present terms.
- RAB charges cannot be negative as they measure the level of government subsidy to the student loan system. If the future repayments are forecast to have a higher net present value than the initial loan outlay or the face value of the outstanding loans using the HM Treasury (HMT) discount rate then the RAB charge is required to use a discount rate equal to the rate intrinsic to the loan product, which is the rate that sets the RAB charge to 0%. Please see the Methodology document accompanying this publication for further information. Without this rule, the figure produced by the student loan repayment model using the HMT discount rate is –23.7% for the masters RAB charge in 2023-24.
- RAB charge is dependent on the proportion of Doctoral loan borrowers also taking out Master's loans. Doctoral RAB charges are not forecast for individual financial years, as the number of doctoral students with a prior Master's loan balance cannot be reliably estimated. However, a steady state Doctoral RAB charge is provided which takes into account the expectation that many borrowers will already have a Master's loan that they are repaying.
- RAB charge have been rounded to the nearest 1%.
- There are too few borrowers receiving Plan 1 loans to reliably produce a forecast for the RAB charge.
- Where you see the symbol 'z' this refers to not applicable.
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