Student debt hits £5.5 billion in Scotland

New figures from the Student Loans Company have revealed that total publicly owned student debt in Scotland has hit over £5.5 billion.

Student debt hits £5.5 billion in Scotland

The overall publicly owned student debt level is three times what it was at the end of the 2006-07 financial year, new figures have shown.
 
The data reveals that over the period, the average loan balance for higher education borrowers on entry into repayment has more than doubled.
 
The average loan balance for HE graduates when they reached the point at which their loan repayments were due to start, was £6,080, a figure which has risen to £13,800 in 2018/19.
 
Scottish Labour education spokesperson Iain Gray described the figures as a ‘betrayal’ of Scotland’s students and graduates, when he raised the issue during First Ministers’ Questions this week.
 
Mr Gray, said: “Figures that have been released today show that Scottish publicly owned student debt has soared to £5.5 billion, which is three times what it was at the end of the 2006-07 financial year.

“The average individual debt level on entry into repayment has more than doubled under the SNP.”


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