Parliamentary Search

Written question asked by Baroness Sharp of Guildford (Liberal Democrat) on Monday, 18 January 2016, in the House of Lords. It was due for an answer on Monday, 1 February 2016. It was answered by Baroness Evans of Bowes Park (Conservative) on Monday, 25 January 2016 on behalf of the Department for Business, Innovation and Skills.

Mature Students: Loans

Question

To ask Her Majesty’s Government what is the resource cost charge in England of (1) full-time fee loans in higher education, (2) full-time maintenance loans in higher education, (3) part-time fee loans in higher education, and (4) adult further education fee loans, for those aged 24 and over who are studying on Level 3 and 4 courses.

Answer

We estimate that the Resource Accounting and Budgeting (RAB) charge for full time tuition fee and maintenance loans, and part time fee loans, is between 20% and 25%.


We estimate that the Resource Accounting and Budgeting (RAB) charge for Advanced Learner Loans is around 40%. BIS is collecting data on learners as it emerges and based on this data we regularly review and update the RAB charge estimate for Advanced Learner Loans.


These estimates take into account the changes to student finance and the new HM Treasury discount rate used to value the student loan book announced at Spending Review and Autumn Statement 2015. We will update our estimates in summer 2016 and publish these at the same time as BIS accounts.



Secondary information

Type
Written question
Reference
HL5098
Session
2015-16
Subjects
Further education Higher education Loans Mature students
Contains statistics
Yes
Link
View this Written question on www.parliament.uk