Students: Loans
(asked on 22nd March 2016) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Innovation and Skills, how much the Student Loans Company and HM Revenue and Customs spent on maintaining and collecting student loan repayments in each year for which data is available.
The Student Loans Company (SLC) and HM Revenue and Customs (HMRC) have spent the following on maintaining and collecting income contingent repayments since the financial year 2011-12:
| Student Loans Company | HM Revenue and Customs |
FY 2011-12 | £15.7m | £5.6m |
FY 2012-13 | £15.6m | £6.4m |
FY 2013-14 | £18.6m | £5.5m |
FY 2014-15 | £18.5m | £5.8m |
FY 2015-16 | £20.9m (forecast) | £6.3m (forecast) |
The figures in the table above include both the direct costs and associated ICT and back office overheads incurred by SLC and HMRC in maintaining and collecting income contingent repayments.