Table 8: Projected long-term face value of student loans in nominal and real terms per financial year
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Projected long-term face value of student loans in nominal and real terms per financial year.
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2024-25
- Release type
- Number of rows
- 850
- Geographic levels
- National
- Indicators
- Loan outlay (£ billion)
- Repayments (£ billion)
- Capitalised interest (£ billion)
- Filters
- Plan type of loan
- Loan type
- Time period
- 2024-25 to 2073-74
Data set preview
plan_type | loan_type | time_period | outlay_£b | repayments_£b | capitalised_interest_£b | cancelled_loans_£b | outstanding_balance_at_start_of_financial_year_£b | outstanding_balance_at_start_of_financial_year_202425_prices_£b | time_identifier | geographic_level | country_code | country_name |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Plan 1 | Plan 1 loans | 202425 | low | 1.8 | 0.5 | low | 32.7 | 32.7 | Financial year | National | E92000001 | England |
Plan 1 | Plan 1 loans | 202526 | z | 1.6 | 0.3 | low | 31.3 | 30.3 | Financial year | National | E92000001 | England |
Plan 1 | Plan 1 loans | 202627 | z | 1.5 | 0.3 | 0.1 | 30 | 27.9 | Financial year | National | E92000001 | England |
Plan 1 | Plan 1 loans | 202728 | z | 1.3 | 0.3 | 0.1 | 28.7 | 26 | Financial year | National | E92000001 | England |
Plan 1 | Plan 1 loans | 202829 | z | 1.2 | 0.2 | 0.1 | 27.6 | 24.3 | Financial year | National | E92000001 | England |
Variables in this data set
Variable name | Variable description |
---|---|
cancelled_loans_£b | Cancelled loans (£ billion) |
capitalised_interest_£b | Capitalised interest (£ billion) |
loan_type | Loan type - Filter by loan type |
outlay_£b | Loan outlay (£ billion) |
outstanding_balance_at_start_of_financial_year_£b | 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 (opens in a new tab).
- The outlay model only forecasts students as receiving loans up to six years after entering higher education; therefore, no Plan 1 outlay is forecast. 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 the introduction of different plan types is available in Table 1.1 in the publication 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).
- 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. This is a slight simplification – liability for Plan 5 repayments starts in April 2026, so some additional repayments will be forecast. The impact on the forecast for the overall loan system is minimal.
- 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 are no longer liable to make repayments.
- Forecasts up to 2029-30 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. Due to the combination of forecasts used, the cashflows may not add up on every row. Please see the Methodology document accompanying this publication for further information.
- Values in 2024-25 prices have been calculated using OBR forecasts for RPI. Economic and fiscal outlook – March 2025 - Office for Budget Responsibility (opens in a new tab)
- 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 means not applicable. For example, there are no ALL Plan 2 borrowers modelled after 2024/25.
- Where you see ‘low’, this refers to figures which round to 0, but are not 0.
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