Latest statistical release now available
SLC publishes statistics on student loans for higher and further education
SLC has published its latest statistical release providing information on student loan outlays, repayment and borrower activity. The release includes reports for all four UK countries and covers:
- Income Contingent Student Loan balance by repayment plan type
- Total amount lent to student borrowers
- Interest added to Income Contingent Loans
- Average Income Contingent Loan balances
- Income Contingent Loan repayments
Please note this year’s data shows significant differences to the previous year due to the More Frequent Data Sharing (MFDS) between HMRC and SLC introduced in April 2019, providing a more up-to-date picture of loan balances and repayments.
The transition to MFDS in the last year has affected how repayments and interest amounts have been reported, meaning these figures cover almost two financial years (those processed in both 2018-19 and 2019-20). Prior to MFDS, repayments and interest shown in a given financial year were mainly for the year before.
The improved data does not affect the actual amount borrowers need to repay or the interest applied. The data sharing is part of a number of measures to create a more efficient loan repayment system and also helps to prevent graduates overpaying at the end of their loan.