Table 6a: Forecast number of student loan borrowers liable to repay and number earning above repayment threshold, by loan product
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Forecast number of student loan borrowers liable to repay and number earning above repayment threshold, 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
- Number of borrowers liable to make repayments
- Number of borrowers liable to make repayments and earning above repayment threshold
- Filters
- Plan type of loan
- Loan type
- Time period
- 2023-24 to 2028-29
Data set preview
| time_period | plan_type | loan_type | borrowers_repayment | borrowers_repayment_above_threshold | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|---|---|
| 202324 | Plan 1 | Plan 1 loans | 2470000 | 1395000 | Financial year | National | E92000001 | England |
| 202425 | Plan 1 | Plan 1 loans | 2370000 | 1215000 | Financial year | National | E92000001 | England |
| 202526 | Plan 1 | Plan 1 loans | 2285000 | 1095000 | Financial year | National | E92000001 | England |
| 202627 | Plan 1 | Plan 1 loans | 2200000 | 1030000 | Financial year | National | E92000001 | England |
| 202728 | Plan 1 | Plan 1 loans | 2120000 | 955000 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| borrowers_repayment | Number of borrowers liable to make repayments |
| borrowers_repayment_above_threshold | Number of borrowers liable to make repayments and earning above repayment threshold |
| loan_type | Loan type - Filter by loan type |
| plan_type | Plan type of loan - Filter by plan type |
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.
- 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).
- Totals provided for higher education undergraduate counts a loan borrower once even if they have more than one undergraduate loan product. For individuals plan type totals, they are counted once for each plan type they hold. Totals for Plan 3 and Advanced Learner Loans double count borrowers and so they have been omitted.
- Borrowers on part-time courses longer than 4 years may become liable to make repayments before the end of their course. However, they are assumed to earn below the repayment threshold until the April after their course end date, even if they become liable to make repayments before this point.
- Earnings are forecast as equivalent annual earnings. As such figures include borrowers who would be earning above the repayment threshold for only part of the year and make a repayment as a result.
- Only earnings that would be recorded by HMRC are included. This excludes any earnings overseas or earnings that are not declared to HMRC.
- Earnings on entry into the labour market are expected to be lower than those mid-career, this will impact the number of borrowers earning above the repayment threshold for plans where the earliest borrowers have only recently become liable to make repayments.
- The first Plan 2 borrowers became liable to make repayments in 2016-17. The earliest master's loan borrowers became liable to make repayments in 2019-20 and doctoral loan borrowers in 2020-21. For modelling purposes, it is assumed the first Plan 5 borrowers will become liable to repay the first April after finishing or withdrawing from their course.
- Borrower numbers have been rounded to the nearest 5,000 borrowers.
- Where you see the symbol 'z' this refers to not applicable.
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