Students: Loans

(asked on 24th March 2021) - View Source

Question to the Department for Education:

To ask Her Majesty's Government what assessment they have made of graduate earnings in their calculation of the write off of student loan debt.


Answered by
Lord Parkinson of Whitley Bay Portrait
Lord Parkinson of Whitley Bay
Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
This question was answered on 12th April 2021

The department’s assessment of the earnings of student loan borrowers takes into account the latest Student Loan Company and Longitudinal Education Outcomes data, plus survey data from the Labour Force Survey and British Household Panel Survey, mortality statistics from the Office for National Statistics and macro-economic forecasts of earnings growth from the Office for Budget Responsibility. The assessment can be accessed here: https://obr.uk/fsr/fiscal-sustainability-report-july-2020/, in the document 'July 2020 Fiscal sustainability report - charts and tables: Chapter 2'. Detailed information on the assessment of graduate earnings is published in the Earnings forecasts section of the Student Loans methodology, which can be found here: https://www.gov.uk/government/statistics/student-loan-forecasts-england-2019-to-2020, in the document 'Student loan forecasts, England 2019 to 2020: quality and methodology information'. The next update to the student loan forecasts publication is announced for June 2021.

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