Table 4b: Forecast Resource Accounting and Budgeting (RAB) charge, by loan product
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RAB charge in % by loan product
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2022-23
- Release type
- Geographic levels
- National
- Indicators
- RAB charge
- Filters
- Loan type
- Plan type of loan
- Time period
- 2022-23 to 2027-28
Data set preview
plan_type | loan_type | time_period | rab_charge | time_identifier | geographic_level | country_code | country_name |
---|---|---|---|---|---|---|---|
Plan 1 | Plan 1 loans | 202223 | z | Financial year | National | E92000001 | England |
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 |
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: Borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England.
- Figures have been rounded to the nearest 1%.
- Where you see the symbol 'z' this refers to not applicable.
- 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%. See the quality and methodology information 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 -26% for the masters RAB charge in 2022-23.
- 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.
- The decision was made to no longer forecast a RAB charge for Plan 1 loans as there are too few borrowers still receiving these to produce a reliable forecast.
- 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
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