As part of Budget 2020, the government conducted an internal review of the student loan sale programme, in consultation with the Department for Education and UK Government Investments.


Review of the student loan sale programme

Ref: ISBN 978-1-913635-04-6PDF, 282KB, 18 pages


This review sets out the government’s analysis and confirms that the 2 past sales achieved value for money, raising £3.6 billion and reducing public sector net debt.

However, following the ONS’ recent change in the accounting treatment of student loans, sales would now have new impacts on borrowing and net investment. Due to the government’s progress in fixing the public finances, debt is now expected to be broadly stable over the medium term. As such, tshhe review announces that the government will not make further sales of student loans. Students are unaffected by this decision.

Published 11 March 2020