English elite report highest borrowing and biggest deficits

Is it just me? or does the OfS simply ignore the treasury? Phrases like "Analysis suggests that providers have forecast an increase of 124,000 full-time undergraduate students (FTEs) from 2020-21 to 2024-25 (11.6 per cent)" and "Providers have generally assumed that there is no change to the tuition fee limit for UK undergraduate students" suggest that this entire report is based on a set of fictions created by the insitutions themselves. No-one seems to want to recognise the toxic nature of sub-prime student loans.