Student loan outlay, repayments, capitalised interest accrued by loan borrowers and cancelled loans, by loan product
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2019-20
- Release type
- Geographic levels
- National
- Indicators
- £ Million
- Filters
- Loan type
- Payment type
- Plan type of loan
- Time period
- 2019-20 to 2024-25
Data set preview
| payment_type | plan_type | loan_type | time_period | GBPmillion | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|
| Outlay | Plan 1 | Plan 1 loans | 201920 | 0 | Financial year | National | E92000001 | England |
| Outlay | Plan 2 | Plan 2 Total | 201920 | 16860 | Financial year | National | E92000001 | England |
| Outlay | Plan 2 | Higher education full time loans | 201920 | 16370 | Financial year | National | E92000001 | England |
| Outlay | Plan 2 | Higher education part time loans | 201920 | 290 | Financial year | National | E92000001 | England |
| Outlay | Plan 2 | Advanced Learner Loans | 201920 | 200 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| GBPmillion | £ Million |
| loan_type | Loan type - Filter by loan type |
| payment_type | Payment type - Filter by payment type |
| plan_type | Plan type of loan - Filter by plan type |
Footnotes
- 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
- 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.
- 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.
- Doctoral loans were introduced in August 2018.
- Coverage: Borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England.
- Repayment forecasts assume that obligatory repayments are made in the same year in which the borrower had the income on which they are based. In reality HMRC receives repayments made via self assessment forms the following year, and some repayments made through PAYE will be received the following year, particularly repayments based on earnings in the final month of the year.
- Figures have been rounded to the nearest £5 million.
- Master's loans were introduced in August 2016.
- 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.
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