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
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2023-24
- 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
| plan_type | loan_type | time_period | outlay_£bn | repayments_£bn | capitalised_interest_£bn | cancelled_loans_£bn | outstanding_balance_at_start_of_financial_year_£bn | outstanding_balance_at_start_of_financial_year_202324_prices_£bn | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Plan 1 | Plan 1 loans | 202324 | low | 2.1 | 2 | low | 33 | 33 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202425 | z | 1.7 | 1.8 | 0.1 | 32.9 | 31.4 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202526 | z | 1.5 | 1 | 0.1 | 32.9 | 30.9 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202627 | z | 1.4 | 0.7 | 0.1 | 32.3 | 29.7 | Financial year | National | E92000001 | England |
| Plan 1 | Plan 1 loans | 202728 | z | 1.3 | 0.8 | 0.1 | 31.5 | 28.1 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| cancelled_loans_£bn | Cancelled loans (£ billion) |
| capitalised_interest_£bn | Capitalised interest (£ billion) |
| loan_type | Loan type - Filter by loan type |
| outlay_£bn | Loan outlay (£ billion) |
| outstanding_balance_at_start_of_financial_year_£bn | 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: https://www.practitioners.slc.co.uk/products.
- 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.
- 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
- 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 (opens in a new tab) Sale 2: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137 (opens in a 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 were no longer liable to make repayments.
- 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.
- Values in 2023-24 prices have been calculated using OBR forecasts for RPI.
- Outlay, repayments, capitalised interest, cancelled loans and outstanding balance figures have been rounded to the nearest £0.1 billion.
- Where you see the symbol 'z' this refers to not applicable.
- Where you see ‘low’ this refers to figures which round to 0, but are not 0.
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