HC Deb 20 November 2001 vol 375 cc262-4W
Dr. Kumar

To ask the Secretary of State for Education and Skills how many people have taken out student loans per year since their inception; what is(a) the average amount per loan, (b) the average amount loaned to each student, (c) the average time taken before repayments begin, (d) the running costs per year of the Student Loans Company and (e) the annual income from repayments of the Student Loans Company. [16216]

Student support provision: academic years 1990–91 to 2000–01
Academic years 1990–91 1991–92 1992–93 1993–94 1994–95 1995–96 1996–97 1997–98 1998–99 1999–20001
Student loans (United Kingdom)2,3
Number of loans (thousands)4 180.2 261.1 345.3 430.4 517.2 559.8 589.6 615.1 659.5 723.6
Value of loans (£ million) 69.9 139.2 226.5 316.7 538.8 700.8 877.2 941.0 1,233.5 1,823.0
Average value of loan (£)5 390 530 660 740 1,040 1,250 1,490 1,530 1,870 2,520
Eligible population (thousands)6 643.5 726.6 836.3 917.4 944.4 949.8 945.7 962.9 966.7 982.5
Take up of student loans (percentage) 28 36 41 47 55 59 62 64 68 74
1 Provisional
2 Student loans are available to eligible students normally domiciled in the United Kingdom.
3 Student loans are available to most 'home' students on full-time undergraduate HE courses (and students on full-time and part-time postgraduate courses of initial teacher training) who are aged less than 50 at the start of their course. From 1999–2000, students aged between 50 to 54 at the start of their course (this includes students who started their course after September 1998) can apply for a student loan as long as they can demonstrate to their awarding authority that they plan to return to employment after finishing their course.
4 Refers to loans advanced in the target year only, which include those to students in their first, second, third and any subsequent year of their course.
5 Rounded to the nearest £10.
6 Total number estimated to be eligible for loans. This includes eligible students attending courses entirely at overseas privately funded or NHS institutions. From 1996–97 nursing students on diploma course with fees paid by the Department of Health bursaries are excluded though some may be eligible for loans if their Department of Health bursaries are reduced through means-testing. Population estimates have been compiled from data provided by HESA, FEFC and from the Student Loans Company.

Notes:

1. New student support arrangements were introduced from academic year 1998–99. New students in 1998–99 apart from certain specified exceptions received support for maintenance expenditure through means-tested grants (comprising about a quarter of the support available) and non income-assessed student loans (comprising about three quarters of the support available). In 1999–2000 students who entered higher education from 1998–99 onwards received support for maintenance expenditure entirely through loans, of which approximately three quarters of the value was non income-assessed. Loans made under these arrangements are repayable on an income contingent basis. The ratio of support for existing loans, ie those who entered higher education up to 1997–98, was roughly 50 per cent, means-tested grant and 50 per cent, non means-tested loan repayable on a mortgage style basis.

2. Mandatory awards are awarded by local education authorities (LEAs) in England and Wales to eligible students normally domiciled in their area.

3. Includes placement year sandwich students.

4 Excludes placement year sandwich students.

Source:

Student Loans Company

The running costs per year of the Student Loans Company are shown in the table:

£ million
Academic year Running costs
1990–91 13.0
1991–92 13.7
1992–93 13.6
1993–94 18.3
1994–95 19.7
1995–96 21.3
1996–97 22.9
1997–98 27.7
1998–99 36.5
1999–2000 48.6

Source:

SLC Annual Reports

UK figures: mortgage style loan repayments received from SLC by financial year
£ million
Academic year Running costs
1990–91 0
1991–92 1
1992–93 5
1993–94 11
1994–95 25

Margaret Hodge

Not all of the information requested is held centrally or readily available. The information that is available is shown in the following tables.

UK figures: mortgage style loan repayments received from SLC by financial year
£ million
Academic year Running costs
1995–96 52
1996–97 83
1997–98 129
1998–99 132
1999–2000 131
2000–01 178

The SLC received payments from borrowers and returns them to the three funding authorities (DfES, Students Awards Agency for Scotland and Department of Education and Learning in Northern Ireland).

Prior to devolution, repayments were shared on an apportionment basis, derived from estimated student numbers.

Since June 2000, repayments have been returned to each funding authority on the basis of the borrower's domicile.