BIS/SLC: Early Statistics on Student Support for Higher Education in England, 2009/10 (Provisional)
Due to high levels of public interest in the processing of Higher Education Student Support applications by Student Finance England, the Student Loan Company, in conjunction with BIS analysts, is releasing early provisional figures to show the levels of processing and payment of Student Support in England for the 2009/10 academic year.
The first release was published on Tuesday 27 October 2009. The second release was published on Tuesday 3 November 2009. The third release was published on Tuesday 10 November 2009. It included extra information, that was not in the first two releases, showing the processing history behind the figure for outstanding interim assessments.
The third release was intended to be the last in the series. However, following continued interest after the publication of the annual Student Support Statistical First Release on Wednesday 25 November 2009, the series is being resumed with a timetable as follows:
- The position at 18 October 2009 (published 27 October 2009 revised 3 November 2009)
- The position at 25 October 2009 (published 3 November 2009)
- The position at 1 November 2009 (published 10 November 2009)
- The position at 15 November 2009 (published 30 November 2009)
- The position at 29 November 2009 (published 3 December 2009)
- The position at 6 December 2009 (published 10 December 2009)
- The position at 13 December 2009 (published 17 December 2009)
- The position at 31 January 2010 (published 4 February 2010)
- The position at 28 February 2010 (published 4 March 2010)
The key points from the release published on 28 February 2010 are:
- A total of 1,033,000 applications for student support for the 2009/10 academic year were registered by 28 February 2010. This is an increase of 89,000 compared to the same point in 2008/09. 943,000 of the 2009/10 applications were available for processing.
- 935,000 applications had been approved by 28 February 2010: 920,000 had been fully assessed, 15,000 were assessed on an interim basis. At the same point in 2008/09, 881,000 applications had been approved.
- 862,000 students had been paid by 28 February 2010. This is an increase of 38,000 compared to the same point in 2008/09.
- SLC requires confirmation of attendance for 25,000 approved applicants before they will become due a maintenance payment.
Maximum Loan Rates
Part of these loans are means tested and there are exceptions to these rates. Students should contact their local award authority for full details.
Interest Rates for Income Based Loans
The Student Loans Company will apply 0% interest rate from 1 September 2009 – 31 August 2010 across the UK.
The Borrowers monthly repayments are unaffected by the rate of interest. Borrowers repay 9% of their earnings over the income threshold of £15,000.
Interest Rates for Fixed Term Loans
Fixed term loans were taken out before 1998. They do not attract the same rate of interest as income based loans. They are repaid over a fixed term (also known as 'mortgage-style') and the interest is linked solely to the RPI. The interest rate for September 2009 until 31 August 2010 will therefore be -0.4%.
Take Up Figures 1991-2005
Useful figures on the take up of loans in the period 1991-2005.
Mortgage Style Loans Only
Students who started in higher education before September 1998 would have taken out a fixed-term ('mortgage-style') loan. Repayment of this type of loan can be deferred on a yearly basis if the repayer's income is below 85% of the national average. Find out more about the deferment threshold and maximum loan available.
Income Contingent Loans - Transition Loan Scheme
Details of the Income Contingent Loan Scheme covering the period 1998/1999.
National Statistics
Further information about National Statistics can be found on the National Statistics website www.statistics.gov.uk