Page 221 of the Department for Education’s 2019/20 financial statement contains the note reproduced above. The sale programme for “pre-2012” student loans was cancelled in March. But DfE looks like it will be paying out over £30million per year for the next few years to financiers anyway. Total liabilities are booked above at over £220million.
sale of student loans
Last week’s Supplementary Estimates contained another note of interest for student loans. Under “Note K: Contingent Liabilities” (p. 90) we find that a fifth contingent liability has been added to those associated with the now abandoned sale of student loans. The sale of student loans necessitated warranties and indemnities to secure interest and obtain valuefor […]