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Student Loans 2013-14

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The Student Loans Company has released statistics for 2013-14 today. These are designated National Statistics.

http://www.slc.co.uk/media/775303/slcsfr012014.pdf

Headlines for England:

  • The amount lent in financial year 2013-14 was £9.0bn, an increase of 26% when compared to 2012-13.
  • Net repayments posted to customer accounts amounted to £1.5bn in the financial year 2013-14, an increase of 7% compared to 2012-13 (including £203.8m repaid earlier than required).
  • The balance outstanding (including loans not yet due for repayment) at the end of the financial year 2013-14 was £54.4bn, an increase of 18% when compared with 2012-13.
  • At the end of 2013-14 there were 4.3m borrowers; of these, 2.5m had accounts liable for repayment. These figures represent an increase of 11% and 9% respectively compared to the position at the end of 2012-13.
  • The average debt for all borrowers who still had a live account at the end of tax year 2012-13 ranged from £6,400 for the 2000 repayment cohort (after 13 years of recorded repayment history) to £18,640 for the 2013 repayment cohort. The average debt for the 2014 repayment cohort which just entered repayment was £20,100 at the end of tax year 2013-14.

StudentLoans2014.gif

Note that the above debt levels are no longer included in the Bank of England's monthly statistical releases of household debt.

Statistics for Northern Ireland, Scotland and Wales can be found here: http://www.slc.co.uk/official-statistics/student-loans-debt-and-repayment.aspx

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Interesting statistics but I'd rather they spent some time sorting out their systems so that they can tell me what I actually owe in real time (or maybe even to the nearest month) instead of having to do a bunch of calculations.

But perhaps that isn't in their interest.

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A £20k debt growing at RPI + 3% moving towards a 30 year write off deadline. How does one account for this asset on a balance sheet in an appropriate manner?

I'd assume that they are adding in corrections for future changes to T&Cs as well.

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Some bullet points that actually cut to the chase and tell you what you want to know.......20k debt for those leaving university in 2014, for example. With ONS

data you have got no chance trying to find stats.

Edited by crashmonitor

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While i'm no fan of the NHS, this is the one thing that puts me off 'privatizing' it.

Of all the models to 'reform' university education and funding, we seem to have chosen the single worst model imaginable, the ponzi-debt fuelled yank system.

My guess is the tories will most likely try to replicate this with a US healthcare model, rather than a true free market one.

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I feel proud to see that our noble nation is making such great strides in debt increases.

Strength through debt!

The lecturers and administrators are getting a good income, thats all that matters.

The customers are king. It is the lecturers and administrators who are supposed to be the customers, right?!

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The lecturers and administrators are getting a good income, thats all that matters.

The customers are king. It is the lecturers and administrators who are supposed to be the customers, right?!

Quite a lot of lecturers are on zero hours contracts* which means that they get paid for the contact hours, however few the institution can get away with, and are not paid for preparation or marking.

*The number of zero-hour teaching contracts in universities equates to 47% of the total number of 'teaching-only' posts that institutions report annually to the national statistical agency. UCU website

That's the contracted ones. Then there are those who are brought in ad hoc. I ought to know, I've done some work like this. By the time you've factored in preparation and marking time, and travel time and costs, the pay is pants.

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