The Resource Accounting Budget charge, which is the government subsidy anticipated on student loans issued in any particular financial year, is calculated as the present value of student loan outlay less expected future repayments, in accordance with relevant International Financial Reporting Standards and guidance from HMT\u2019s Government Financial Reporting Manual (FReM).<\/p>
<\/p>
The FReM requires future repayments of student loans to be discounted at the higher of the intrinsic rate of the financial instrument and the real financial instrument discount rate set by HMT, based on analysis of real yields on UK index linked gilts and are specifically appropriate to central government.<\/p>
<\/p>
The FReM is kept under constant review. It is updated to reflect developments in relevant standards and best practice.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3969", "label" : {"_value" : "Biography information for Damian Hinds"} } , "answeringMemberConstituency" : {"_value" : "East Hampshire"} , "answeringMemberPrinted" : {"_value" : "Damian Hinds"} , "dateOfAnswer" : {"_value" : "2024-05-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-05-24T10:39:37.977Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2024-05-21", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Students: Loans"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, for what reasons the discount rate used to calculate the Resource Accounting and Budgeting charge on student loans is different to the rate used for general policy appraisal.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4679", "label" : {"_value" : "Biography information for Neil O'Brien"} } , "tablingMemberConstituency" : {"_value" : "Harborough"} , "tablingMemberPrinted" : [{"_value" : "Neil O'Brien"} ], "uin" : "27501"} , {"_about" : "http://data.parliament.uk/resources/1718566", "AnsweringBody" : [{"_value" : "Home Office"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1718566/answer", "answerText" : {"_value" : "
The Home Office published \u2018Analysis of migrants use of the Graduate route<\/a>\u2019. The report shows the proportion of student visa holders who were subsequently granted a work visa after their studies, and those who left the Graduate route and went into work (including those who were granted a Health & Care visa).<\/p> The report shows that, of the 25,469 people whose Graduate visas had expired by the end of 2023, 46% had switched to a work visa (9% of the total switched to the Health & Care route). In addition, based on matching Home Office visa records with HMRC income data, of Graduate visa holders who earned in at least one month during the financial year ending 2023 (including those who worked across the full year), 16% worked in the Health and Social Care work sector.<\/p> The report does not look at specific occupations Student or Graduate visa holders held, or the number of students who extended into the Health & Care route. This information is not currently published by the Home Office.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4369", "label" : {"_value" : "Biography information for Tom Pursglove"}
}
, "answeringMemberConstituency" : {"_value" : "Corby"}
, "answeringMemberPrinted" : {"_value" : "Tom Pursglove"}
, "dateOfAnswer" : {"_value" : "2024-05-20", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-05-20T15:19:56.407Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "1"}
, "answeringDeptShortName" : {"_value" : "Home Office"}
, "answeringDeptSortName" : {"_value" : "Home Office"}
, "date" : {"_value" : "2024-05-15", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Visas: Care Workers"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for the Home Department, how many people on a (a) student visa and (b) graduate visa took jobs (i) in caring, leisure and other service occupations, (ii) as care workers and (iii) as senior care workers in the financial year (A) 2021-22 (B) 2022-23 and (C) 2023-24.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4679", "label" : {"_value" : "Biography information for Neil O'Brien"}
}
, "tablingMemberConstituency" : {"_value" : "Harborough"}
, "tablingMemberPrinted" : [{"_value" : "Neil O'Brien"}
], "uin" : "26601"}
, {"_about" : "http://data.parliament.uk/resources/1697404", "AnsweringBody" : [{"_value" : "Department for Education"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1697404/answer", "answerText" : {"_value" : " The job titles for everyone working in the Human Resources & Transformation Directorate are as follows:<\/p> Current school funding, for individual schools and at local authority level, cannot be directly compared to school funding in 2010 due to structural changes in the funding system. For local authorities, funding for schools was only identified separately from funding for high needs or early years in 2013, so comparisons cannot be made before that point. In 2018, the schools national funding formula (NFF) started to direct funding according to a consistent assessment of need, rather than historic local spending decisions. Funding changes since 2018 will therefore reflect this move to fairer funding.<\/p> Local authority level data on school funding, including average funding per pupil, is published annually as part of the announcement of Dedicated Schools Grant (DSG) allocations.<\/p> The block of funding in the DSG relating to primary and secondary mainstream schools (the 'schools block') was first introduced in 2013/14. DSG data between 2013/14 and 2017/18 provides the schools block per-pupil unit of funding for each local authority. This covers both primary and secondary schools together. The department does not hold separate data for primary and secondary pupils for this period and does not have comparable data for years prior to 2013/14.<\/p> The funding system changed again in 2018/19 when the NFF was introduced. With the introduction of the NFF, funding was provided by reference to primary and secondary schools separately.<\/p> The scope of the per pupil figures pre and post-2018 are not directly comparable. In particular, the central services provided by local authorities was split out from the schools block funding in 2018/19, and instead funded separately through the central school services block from that year onwards.<\/p> Links to the published DSG tables can be found here:<\/p>