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749230

	registered interest
	date	06/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Children: Social Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what is their response to the analysis in the report of the Institute for Fiscal Studies on the public cost of student loans that, for each £1 loaned to cover costs of tuition and maintenance, the long-term cost to the Treasury is 43.3p.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL566
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The Resource Accounting and Budgeting (RAB) charge estimates the value of loans that will not be repaid during their 30-year term. This is usually expressed as a percentage of the loan outlay made in the relevant year.</p><p> </p><p>The estimate of the RAB charge referenced in the question appears to have been taken from the 2014 Institute for Fiscal Studies report on “Estimating the public cost of student loans”. However, the most recently published Institute for Fiscal Studies report of July 2017 has updated this estimate to 31.3%. This is broadly similar to the Government’s estimate of the RAB charge at around 30% for full time tuition fee and maintenance loans and part time fee loans issued in 2016/17.</p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:22:22 answering member 4584 label Biography information for Baroness Sugg
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath

749231

	registered interest
	date	06/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Children: Social Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what is their response to the estimate in the report of the Institute for Fiscal Studies on the public cost of student loans that the total cost of the taxpayer contribution in respect of young full-time undergraduates enrolling in English universities in 2012 is only five per cent lower than the estimated cost for that cohort had the changes to higher education funding not been introduced.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL567
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The most recent Institute for Fiscal Studies report (“Higher Education funding in England: past, present and options for the future”) of July 2017 states that the long run cost of the 2017 system in 2017 is £5.9 billion, 35% lower than the £9.0 billion that is the equivalent cost of the 2011 system.</p><p> </p><p>The figure of 5% was in a 2014 report by the Institute for Fiscal Studies.</p><p> </p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:18:49 answering member 4584 label Biography information for Baroness Sugg
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath