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(asked on )
Question
To ask the Secretary of State for Business, Innovation and Skills, what revenue the Government received through student loan repayments in (a) 2010, (b) 2011, (c) 2012 and (d) 2013.
Information on the repayment of student loans is published in the Statistical First Release“Student Loans for Higher Education in England”. The latest publication is available at the following link.
http://www.slc.co.uk/statistics/national-statistics/newnationalstatistics2.aspx
The amounts repaid via HMRC through Pay As You Earn (PAYE) or directly to Student Loans Company (SLC) in the financial years 2009-10 to 2012-13 have been provided in the table. The statistics include repayments made on outstanding debt from both Mortgage Style and Income Contingent Repayment (ICR) loans.
Statistics referring to the financial year 2013-14 will be published in June 2014.
Student Loan Repayments Financial Years 2009-10 to 2012-13 : amounts (£m) | ||||
Financial Year | 2009-10 | 2010-11 | 2011-12 | 2012-13 |
Repaid directly by customer to SLC | 302.2 | 326.5 | 294.6 | 256.9 |
Reported by HMRC as collected via PAYE and Self-Assessment | 726.4 | 850.0 | 1,044.9 | 1,185.3 |
Refunded by SLC to customer | -18.8 | -33.6 | -33.6 | -35.5 |
Total amount repaid, including interest, during the financial year | 1,009.7 | 1,143.0 | 1,305.9 | 1,406.8 |
Source: Statistical First Release Student Loans for Higher Education in England
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Notes: - Repayments are shown in the financial year when they are posted to customer accounts. The SLC are notified of repayments by HMRC, usually within one year of the end of the tax year to which they relate.
- Refunds can occur when an account holder has overpaid SLC in previous financial periods for various reasons. | ||||