Written question WQ94088
- Asked by
- Cefin CampbellPlaid
- To be answered by
- Cabinet Secretary for Education
- Tabled
- Due
- Answered
- Time to answer
- 11 days
Question
Is the Government aware of how the UK Treasury spends the £30 million per year of revenue that the Welsh student finance system generates for the Treasury each year?
Answer
Answered by Minister for Further and Higher Education
Student loan repayment modelling is a complex, fast-moving area and the analysis produced by London Economics et al. provides one viewpoint of the situation at a particular point in time – in this case, amidst changes in UK Government and prior to most recent general election. The fast-moving nature of student loan repayment modelling is demonstrated by the fact that Welsh Government internal modelling currently forecasts a positive RAB rate, thus contradicting the notion of any ‘surplus’. English RAB rates published by DfE[3] are also higher than those produced in the referenced analysis. The methodology for modelling student loans in England can be found here[4], with Welsh Government using an adapted version of the model.
[4] https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england