UK student loan debt soars to more than £100bn

Student loan debt in the UK has risen above £100bn for the first time, underlining the rising costs young people face in order to get a university education.

 

Outstanding debt on loans jumped by 16.6% to £100.5bn at the end of March, up from £86.2bn a year earlier, according to the Student Loans Company. England accounted for £89.3bn of the total.

 

“Lots of prospective and current university students will see these figures and worry about being part of an increasing pool of graduate debt,” said Jake Butler, an expert at money advice website Save the Student.

 

Sorana Vieru, the vice-president for higher education at the National Union of Students, said student debt had risen to “eye-watering levels”.

 

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