Table 8: Projected long-term face value of student loans in nominal and real terms per financial year
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Projected long term student loan outlay, repayments, capitalised interest, cancelled loans, nominal face value and real terms face value of ICR student loans, by loan product
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2025-26
- Release type
- Number of rows
- 850
- Geographic levels
- National
- Indicators
- Loan outlay (£ billion)
- Capitalised interest (£ billion)
- Repayments (£ billion)
- Filters
- Loan type
- Plan type of loan
- Time period
- 2025-26 to 2074-75
Data set preview
| plan_type | loan_type | time_period | outlay_£b | repayments_£b | capitalised_interest_£b | cancelled_loans_£b | outstanding_balance_at_start_of_financial_year_£b | outstanding_balance_at_start_of_FY202526_prices_£b | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Plan 1 | Plan 1 loans | 202526 | z | 1.6 | 1.2 | low | 32.3 | 32.3 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202627 | z | 1.5 | 1.2 | 0.1 | 31.8 | 30.6 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202728 | z | 1.4 | 1 | 0.1 | 31.4 | 29.3 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202829 | z | 1.2 | 0.8 | 0.1 | 31 | 28.2 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202930 | z | 1.3 | 0.8 | 0.1 | 30.5 | 27 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| cancelled_loans_£b | Cancelled loans (£ billion) |
| capitalised_interest_£b | Capitalised interest (£ billion) |
| loan_type | Loan type - Filter by loan type |
| outlay_£b | Loan outlay (£ billion) |
| outstanding_balance_at_start_of_financial_year_£b | Outstanding loan balance at the start of financial year (£ billion) |
Footnotes
- Coverage: All borrowers who receive loans through Student Finance England. For further details on eligibility, please see the Student Finance England practitioner website: Link to practitioner products section on the SLC website (opens in new tab).
- 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.
- A summary timeline of the introduction of different plan types is available in Table 1.1 in the publication Methodology: Link to 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: Link to House of Commons written statement for sale 1 (opens in new tab) Sale 2: Link to House of Commons written statement for sale 2 (opens in new tab).
- Loan cancellations as a result of a borrower reaching the end of their repayment term are recorded as being at the start of the first financial year in which they are no longer liable to make repayments.
- Forecasts up to 2030-31 are consistent with those elsewhere in this publication. The same methodology is used to extend the undergraduate loan forecasts, and a simplified calculation is used to extend the forecasts for Postgraduate Loans and Advanced Learner Loans. Due to the combination of forecasts used, the cashflows may not add up on every row. Please see the Methodology document accompanying this publication for further information.
- Values in 2025-26 prices have been calculated using OBR forecasts for RPI. Link to economic and fiscal outlook – March 2026 - Office for Budget Responsibility (opens in new tab)
- Outlay, repayments, capitalised interest, cancelled loans and outstanding balance figures have been rounded to the nearest £0.1 billion.
- When you see the symbol 'z' this means not applicable. For example, there are no new ALL Plan 2 borrowers modelled after 2025/26.
- When you see ‘low’ this refers to figures which are rounded to 0, but are not 0.
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If you have a specific enquiry about Table 8: Projected long-term face value of student loans in nominal and real terms per financial year statistics and data:
Higher Education Analysis
Email: he.modelling@education.gov.ukContact name: Tony Carter and Sally Mercer