Students: Loans
The question
To ask the Secretary of State for Education, a) what is the current RAB charge for Plan 2 loans, and b) how has this changed year-on-year since 2019.
Answered by Josh MacAlister
The current Resource Accounting and Budgeting (RAB) charge for Plan 2 loans in England is 32.2%. The RAB charge for Plan 2 loans has changed as follows since 2019:
RAB charges (Financial Year) | Plan 2 |
2019/20 | 53.0% |
2020/21 | 54.0% |
2021/22 | 45.0% |
2022/23 | 28.5% |
2023/24 | 29.8% |
2024/25 | 32.2% |
Many factors can influence the RAB charge, including modelling methodology, economic determinants and policy decisions. The last cohort of Plan 2 loan borrowers took their first loans in the 2022/23 academic year, the latest RAB charge covers outlay for borrowers still receiving Plan 2 loans in the 2024/25 financial year.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →