Statistics say almost 1.8 million owe £50,000+ in student debt

Almost 1.8 million people are now in at least £50,000 (US$63,000) of UK student debt, data obtained by BBC News reveals. More than 61,000 have balances of above £100,000, figures from the Student Loans Company (SLC) also show, while another 50 people each owe upwards of £200,000, writes Harrison Jones for BBC News.

The statistics were released after a Freedom of Information (FOI) request for the number of loan holders with above-average debts who are eligible to start repayments. The SLC previously said the average balance for loan holders in England when they start making repayments was less than £45,000. New government data shows that amount has now risen to £48,470. Balances can be significantly higher for those who study multiple or lengthy courses and often rise rapidly with interest.

In 2023-24, some 2.8 million people in England made a student loan repayment, according to government figures released after the FOI response. That means only a small fraction of those repaying their balances are in more than £100,000 of debt – but the majority do owe more than £50,000.
Full report on the BBC News site