Written Question·Department for Education·UIN 115931

Students: Loans

Tabled: 25 February 2026

Answered: 2 April 2026

Named Day

Question

David Reed

To ask the Secretary of State for Education, how much and what proportion of the downward revaluation of the student loan book in the latest outturn reflects (a) revised graduate earnings and repayment assumptions and (b) changes in the discount rate used

Answer

Josh MacAlister

As of 31 March 2025, the fair value of the student loan book was £157.9 billion, representing a £6.9 billion increase on the opening balance of £151.0 billion.The fair value loss in the 2024/25 financial year was £8.6 billion. Of this, the change in the d...

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