Students are racking up six-figure debts after taking out huge loans to pay for higher education, official figures show

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.

Read the full article Students are racking up six-figure debts after taking out huge loans to pay for higher education, official figures show 

Please tell us your thoughts in comments or via Twitter ~ Tamsin

 

Are you a trainee teacher, NQT, teacher, headteacher, parent or  just someone who cares about education and has something to get off  your chest in a Schools Improvement Guest Post? Follow this link for more details at the bottom of the page.

Don’t forget you can sign up to receive our daily email bulletin (around 7am) with all the latest schools news stories. Your details will never be given to anyone else and you can unsubscribe at any stage. Just follow this link.

We now have a Facebook page - please click to like!

 

Backlash from teachers as Tories pledge to beef up Ofsted and bring in no-notice school inspections
Tes exclusive: Birth rate pushes primaries to the edge
Categories: DfE, Higher Education and University.

Let us know what you think...