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answer › date of answer	2017-08-09
question text	Her Majesty%27s 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%2C for each %C2%A31 loaned to cover costs of tuition and maintenance%2C the long-term cost to the Treasury is 43.3p.

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registered interest

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answering body

answering dept id

answering dept short name

answering dept sort name

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tabling member printed

uin

answer

is ministerial correction

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exactly:

or between:
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answering member printed

question first answered

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749230

registered interest

date

06/07/2017

answering body

Department for Education

answering dept id

answering dept short name

Education

answering dept sort name

Education

hansard heading

Children: Social Services

house id

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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

is ministerial correction

date of answer

09/08/2017

answer text

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. 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.

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