The Student Loans Company has revealed that 69 students have graduated with debts of more than £100,000 – double the £50,000 that the average graduate owes. The Daily Mail reports.
In the past few weeks, senior Labour figures such as Shadow Chancellor John McDonnell have signalled their desire to write off the £120 billion owed by graduates.
Currently, more than £16 billion is lent to about a million students in England each year. While the value of outstanding loans is £121 billion, this is forecast to rise to £450 billion by 2050.
Data from the Student Loans Company, issued in response to a Freedom of Information request, reveals that the largest debt owed by a graduate stands at £120,600, with the highest amount of interest at £23,100.
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