Data set from Student loan forecasts for England

Number of student loan borrowers liable to repay and number earning above repayment threshold, by loan product

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Data set details

Theme
Finance and funding
Publication
Student loan forecasts for England
Release type
Geographic levels
National
Indicators
  • Number of borrowers
  • Repayment threshold
Filters
  • Loan type
  • Number of borrowers or Repayment threshold
  • Plan type of loan
Time period
2019-20 to 2024-25

Data set preview

Table showing first 5 rows, from underlying data
borrowers_or_thresholdplan_typeloan_typetime_periodnumber_borrowersthresholdtime_identifiergeographic_levelcountry_codecountry_name
Borrowers liable to make repaymentsPlan 1Plan 1 loans2019202553000NAFinancial yearNationalE92000001England
Borrowers liable to make repaymentsPlan 2Higher education full time loans2019201207000NAFinancial yearNationalE92000001England
Borrowers liable to make repaymentsPlan 2Higher education part time loans201920103000NAFinancial yearNationalE92000001England
Borrowers liable to make repaymentsPlan 2Advanced Learner Loans201920348000NAFinancial yearNationalE92000001England
Borrowers liable to make repaymentsPlan 3Master's Loans201920115000NAFinancial yearNationalE92000001England

Variables in this data set

Table showing all 5 variables
Variable nameVariable description
borrowers_or_thresholdNumber of borrowers or Repayment threshold - Filter between number of borrowers or repayment threshold
loan_typeLoan type - Filter by loan type
number_borrowersNumber of borrowers
plan_typePlan type of loan - Filter by plan type
thresholdRepayment threshold

Footnotes

  1. Repayment thresholds are presented as multiples of £5 in line with the policy for calculating them.
  2. 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 Sale 2: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137
  3. Repayment thresholds have already been set up to 2019-20 for Plan 1 and Plan 2, and up to 2020-21 for Plan 3. Beyond this the Plan 1 threshold is assumed to increase based on RPI and the Plan 2 threshold based on average earnings growth, in line with the current policies. The Plan 3 threshold will be reviewed for 2021-22, so to enable future repayments to be forecast, for modelling purposes it is assumed that it will also increase in line with average earnings growth.
  4. Only earnings that would be recorded by HMRC are included. This excludes any earnings overseas or earnings that are not declared to HMRC.
  5. Plan 2 loans were introduced in place of Plan 1 loans for new entrants to higher education from September 2012. Part-time higher education fee loans were introduced at the same time and part-time maintenance loans were introduced in August 2018.
  6. Doctoral loans were introduced in August 2018.
  7. Borrowers on part-time courses longer than 4 years may become liable to make repayments before the end of their course. However they are assumed to earn below the repayment threshold until the April after their course end date, even if they become liable to make repayments before this point.
  8. Coverage: Borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England.
  9. The first Plan 2 borrowers became liable to make repayments in 2016-17. The earliest master's loan borrowers will become liable to make repayments in 2019-20 and doctoral loan borrowers in 2020-21.
  10. Borrowers with more than one loan product will be recorded against each one separately if they are liable to make repayments against more than one.
  11. Master's loans were introduced in August 2016.
  12. Figures have been rounded to the nearest 5,000 borrowers.
  13. Earnings are forecast as equivalent annual earnings. As such figures include borrowers who would be earning above the repayment threshold for only part of the year and make a repayment as a result.
  14. Advanced Learner Loans were introduced for students aged 24+ on some further education courses in August 2013, and extended to students aged 19-23 in August 2016.
  15. Earnings on entry into the labour market are expected to be lower than those mid-career, this will impact the number of borrowers earning above the repayment threshold for plans where the earliest borrowers have only recently become liable to make repayments.

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