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To ask the Secretary of State for Business, Innovation and Skills what estimate he has made of the (a) monetary value and (b) proportion of student loans which will be irrecoverable for the purposes of his Department's annually managed expenditure estimates for each year of the comprehensive spending review period.
In the spending review period the full-time student tuition fee loan outlay is estimated to be £3.5 billion in 2012-13, £5 billion in 2013-14 and £6 billion in 2014-15.
Additionally, outlay on maintenance loans is expected to be over £3 billion each year.
The proportion of student loans which will be irrecoverable over the lifetime of those loans is estimated to be about 30p in the pound. This has been used in setting the Department's non-cash budget as a ring-fenced part of its departmental expenditure limit budget for each year of the spending review.