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>
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The estimate of the RAB charge referenced in the question appears to have been taken from the 2014 Institute for Fiscal Studies report on \u201cEstimating the public cost of student loans\u201d. 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\u2019s 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4584", "label" : {"_value" : "Biography information for Baroness Sugg"} } , "answeringMemberPrinted" : {"_value" : "Baroness Sugg"} , "dateOfAnswer" : {"_value" : "2017-08-09", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-08-09T16:22:22.193Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2017-07-06", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Children: Social Services"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/2024", "label" : {"_value" : "Biography information for Lord Hunt of Kings Heath"} } , "tablingMemberPrinted" : [{"_value" : "Lord Hunt of Kings Heath"} ], "uin" : "HL566"} , {"_about" : "http://data.parliament.uk/resources/749231", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/749231/answer", "answerText" : {"_value" : "
The most recent Institute for Fiscal Studies report (\u201cHigher Education funding in England: past, present and options for the future\u201d) 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>
The figure of 5% was in a 2014 report by the Institute for Fiscal Studies.<\/p>
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<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4584", "label" : {"_value" : "Biography information for Baroness Sugg"} } , "answeringMemberPrinted" : {"_value" : "Baroness Sugg"} , "dateOfAnswer" : {"_value" : "2017-08-09", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-08-09T16:18:49.953Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2017-07-06", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Children: Social Services"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/2024", "label" : {"_value" : "Biography information for Lord Hunt of Kings Heath"} } , "tablingMemberPrinted" : [{"_value" : "Lord Hunt of Kings Heath"} ], "uin" : "HL567"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 2, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }