Data set from Student loan forecasts for England

Table 4a: Forecast stock charge, by loan product

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Stock charge in % between 2018-19 and 2021-22 by loan product

Data set details

Finance and funding
Student loan forecasts for England
Release type
Geographic levels
  • Stock charge
  • Loan type
  • Plan type of loan
Time period
2018-19 to 2021-22

Data set preview

Table showing first 5 rows, from underlying data
Plan 1Plan 1 loans20181930Financial yearNationalE92000001England
Plan 1Plan 1 loans20192037Financial yearNationalE92000001England
Plan 1Plan 1 loans20202138Financial yearNationalE92000001England
Plan 1Plan 1 loans20212246Financial yearNationalE92000001England
Plan 2Higher education full time20181945Financial yearNationalE92000001England

Variables in this data set

Table showing all 3 variables
Variable nameVariable description
loan_typeLoan type - Filter by loan type
plan_typePlan type of loan - Filter by plan type
stock_chargeStock charge


  1. Stock 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 stock charge is required to use a discount rate equal to the rate intrinsic to the loan product, which is the rate that sets the stock 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 -12% for the master's stock charge in 2021-22.
  2. Figures have been rounded to the nearest 1%.
  3. 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: Sale 2:"
  4. Where you see the symbol 'z' this refers to not applicable.
  5. Plan 2 loans were introduced in place of Plan 1 loans for new entrants to higher education from August 2012. Part-time higher education fee loans were introduced at the same time and part-time maintenance loans were introduced in August 2018.
  6. 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.
  7. The stock charge is the proportion of the outstanding loan balance at the start of the year that we expect not to be repaid when future repayments are valued in present terms.
  8. Master's loans were introduced in August 2016.
  9. Coverage: Borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England
  10. 2018-19, 2019-20 and 2020-21 stock charges have been provided from the previous release in June 2021. Since the last release, there have been revisions to the data, economic assumptions, policies and modelling methodology used within the student finance forecasting models. These changes will all contribute to varying degrees to any changes across time in our forecasts of figures such as the stock charge. This should be considered when comparing the 2018-19, 2019-20 and 2020-21 figures to the remaining forecasts.
  11. Doctoral loans were introduced in August 2018.

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