Data set from Student loan forecasts for England

Table 8 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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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

Data set details

Theme
Finance and funding
Publication
Student loan forecasts for England
Release type
Geographic levels
National
Indicators
  • Loan outlay (£ billion)
  • Repayments (£ billion)
  • Outstanding loan balance at the start of financial year (£ billion)
Filters
  • Plan type of loan
  • Loan type
Time period
2023-24 to 2072-73

Data set preview

Table showing first 5 rows, from underlying data
plan_typeloan_typetime_periodoutlay_£bnrepayments_£bncapitalised_interest_£bncancelled_loans_£bnoutstanding_balance_at_start_of_financial_year_£bnoutstanding_balance_at_start_of_financial_year_202324_prices_£bntime_identifiergeographic_levelcountry_codecountry_name
Plan 1Plan 1 loans202324low2.12low3333Financial yearNationalE92000001England
Plan 1Plan 1 loans202425z1.71.80.132.931.4Financial yearNationalE92000001England
Plan 1Plan 1 loans202526z1.510.132.930.9Financial yearNationalE92000001England
Plan 1Plan 1 loans202627z1.40.70.132.329.7Financial yearNationalE92000001England
Plan 1Plan 1 loans202728z1.30.80.131.528.1Financial yearNationalE92000001England

Variables in this data set

Table showing first 5 of 8 variables
Variable nameVariable description
cancelled_loans_£bnCancelled loans (£ billion)
capitalised_interest_£bnCapitalised interest (£ billion)
loan_typeLoan type - Filter by loan type
outlay_£bnLoan outlay (£ billion)
outstanding_balance_at_start_of_financial_year_£bnOutstanding loan balance at the start of financial year (£ billion)

Footnotes

  1. Coverage: All borrowers who receive loans through Student Finance England. For further details on eligibility, please see the Student Finance England practitioner website: https://www.practitioners.slc.co.uk/products.
  2. The outlay model only forecasts students as receiving loans up to six years after entering higher education; therefore no Plan 1 outlay is forecasted. 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.
  3. A summary timeline of introduction of different plan types is available in Table 1.1 in the Methodology: <a href="https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology">https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology</a>
  4. 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: <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2017-12-06/HCWS317">https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2017-12-06/HCWS317</a> Sale 2: <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137">https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137</a>. 
  5. 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 were no longer liable to make repayments.
  6. Forecasts up to 2028-29 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. Please see the Methodology document accompanying this publication for further information.
  7. Values in 2023-24 prices have been calculated using OBR forecasts for RPI.
  8. Outlay, repayments, capitalised interest, cancelled loans and outstanding balance figures have been rounded to the nearest £0.1 billion.
  9. Where you see the symbol 'z' this refers to not applicable.
  10. Where you see ‘low’ this refers to figures which round to 0, but are not 0.

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