The Office for National Statistics (ONS) announced a new treatment of student loans in the public sector finances and national accounts on 17 December 2018. The decision by the ONS relates to the recording of student loans in the national accounts and public sector finances. Prior to the announcement of the ONS review, the government had already launched the Review of Post-18 Education and Funding in which, amongst other features of the system, funding is being considered.
The review is considering how to ensure that the education system for those aged 18 years and over is accessible to all, is supported by a funding system that provides value for money and works for students and taxpayers. In addition, the review is considering how the education system incentivises choice and competition across the sector and encourages the development of the skills that we need as a country.