Top UK student loan debt statistics
- The UK has the largest student loan debt per borrower in the developed world – larger than even the USA
- The average student starting university this year is expected to graduate with a student loan debt of £45,800
- 2020 graduates took out an average of £45,060 in loans
- The total student loan debt in England is £182 billion
- 1.5 million people in England take out student loans each year
- The government estimates that only 1 in 5 students starting university this year will pay off their student loans in full
- The total student loan debt in England are expected to be £460 billion by 2046
- The largest debt amassed by student in England is £189,700
- Student loan debts are wiped after 30 years after they are first due to be repaid
Tuition fees and maintenance loans
In England, Wales, and Northern Ireland students pay tuition fees in their own countries and receive student loans to cover these costs. In Scotland, Scottish students do not pay tuition fees for their undergraduate degree in almost all cases.
The second cost that is covered by student loans is the cost of living while at university. This is covered in the form of a maintenance loan. All 4 countries in the UK provide this loan.
- All UK students studying in England will pay £9,250 per year in tuition fees
- All UK students studying in Wales will pay £9,000 per year in tuition fees
- English, Welsh, and Northern Irish student studying in Scotland pay £9,250 per year in tuition fees
- Scottish students studying in Scotland do not pay tuition fees
- English, Scottish, and Welsh students studying in Northern Ireland pay £9,250 per year in tuition fees
- Northern Irish students studying in Northern Ireland pay £4,630 in tuition fees
Typical tuition fees based on home status and country of study
| Student home status | Studying in England | Studying in Scotland | Studying in Wales | Studying in Northern Ireland |
| England | £9,250 | £9,250 | £9,000 | £9,250 |
| Scotland | £9,250 | £0 | £9,000 | £9,250 |
| Wales | £9,250 | £9,250 | £9,000 | £9,250 |
| Northern Ireland | £9,250 | £9,250 | £9,000 | £4,630 |
Maintenance loans
- The maximum maintenance loan in England and Wales is £13,022
- Maintenance loans are determined by household incomes
- This means where students have wealthier parents, the parents are expected to contribute more towards a student’s living costs
- In 2016, maintenance grants (that did not need to be repaid) were abolished
Average student loan debt per country in the UK
- The average student loan debt in England has risen from being in line with the rest of the UK at the start of the century to significantly higher in 2022
- Since 2000, student loan debt has risen by:
- 466% in Scotland
- 806% in Northern Ireland
- 1144% in Wales
- 1578% in England
- Students in England now have:
- 3.0 times as much student debt as students from Scotland
- 1.3 times as much debt as students from Wales
- 1.9 times as much debt as students from Northern Ireland
| Year | England | Scotland | Wales | Northern Ireland |
| 1999/00 | £2,690 | £2,620 | £2,720 | £2,690 |
| 2000/01 | £4,150 | £3,910 | £4,230 | £4,280 |
| 2001/02 | £7,010 | £4,890 | £6,980 | £6,370 |
| 2002/03 | £8,220 | £5,530 | £8,110 | £8,020 |
| 2003/04 | £8,850 | £6,000 | £8,790 | £8,570 |
| 2004/05 | £9,350 | £6,300 | £9,260 | £8,790 |
| 2005/06 | £9,670 | £6,300 | £9,490 | £8,700 |
| 2006/07 | £10,050 | £6,080 | £9,900 | £8,810 |
| 2007/08 | £10,870 | £5,990 | £10,590 | £9,410 |
| 2008/09 | £11,770 | £6,130 | £11,240 | £10,090 |
| 2009/10 | £14,670 | £5,980 | £12,530 | £12,540 |
| 2010/11 | £16,160 | £6,020 | £13,080 | £14,920 |
| 2011/12 | £16,990 | £6,500 | £13,500 | £16,680 |
| 2013/14 | £20,040 | £7,480 | £17,240 | £17,340 |
| 2014/15 | £21,160 | £9,460 | £18,990 | £18,040 |
| 2015/16 | £24,400 | £10,390 | £15,930 | £19,610 |
| 2016/17 | £32,340 | £11,690 | £19,110 | £20,840 |
| 2017/18 | £34,450 | £13,170 | £21,410 | £22,310 |
| 2018/19 | £35,670 | £13,670 | £22,750 | £23,250 |
| 2019/20 | £40,010 | £13,890 | £24,810 | £23,280 |
| 2020/21 | £44,760 | £15,110 | £27,480 | £24,510 |
| 2021/22 | £45,150 | £14,840 | £33,830 | £24,360 |
Student loan repayment in the UK
- The UK government expects only 20% of new graduates to repay their student loans in full
- In England, borrowers do not begin to repay their student loans until they have a job that earns £25,000 or more per year
- At this point, students re-pay 9% of their salary towards their student loans
- Borrowers can choose to pay more but the majority choose not to
- However, as soon as you are awarded the loan, it begins to accrue interest
- In Scotland, you start repaying your loan after earning £25,000 a year. The yearly interest rate stays at 1.1% throughout.
- In Northern Ireland, the earnings threshold is £20,000
- The interest rate’s also 1.1% in Northern Ireland
- In England and Wales, while you’re studying you’re charged a flat rate of 4.1% interest
Expected repayments of an average student in England
An average English student has a student loan debt of £45,060 when they graduate and begins their life as a graduate with an average salary of £26,457. Making the assumption of a 2.5% pay rise per year, they would make the following payments.
- Over 25 years repaying their loan, they would pay back a total of £33,40
- £11,539 of this would be in interest
- It would leave a balance of £25,273 that is written off by the government
| # | Year | Salary | Debt | Interest Rate % | Paid This Year | Interest This Year | Total Paid | Total Interest |
| 1 | 2023 | £26,457 | £45,060 | 1.25 | £564 | £563 | £564 | £563 |
| 2 | 2024 | £27,118 | £45,060 | 1.25 | £623 | £563 | £1,187 | £1,126 |
| 3 | 2025 | £27,796 | £44,999 | 1.25 | £684 | £562 | £1,871 | £1,688 |
| 4 | 2026 | £28,491 | £44,877 | 1.25 | £747 | £560 | £2,617 | £2,248 |
| 5 | 2027 | £29,204 | £44,690 | 1.25 | £811 | £557 | £3,428 | £2,805 |
| 6 | 2028 | £29,934 | £44,437 | 1.25 | £876 | £554 | £4,305 | £3,359 |
| 7 | 2029 | £30,682 | £44,114 | 1.25 | £944 | £549 | £5,249 | £3,908 |
| 8 | 2030 | £31,449 | £43,719 | 1.25 | £1,013 | £544 | £6,261 | £4,451 |
| 9 | 2031 | £32,235 | £43,250 | 1.25 | £1,084 | £537 | £7,345 | £4,989 |
| 10 | 2032 | £33,041 | £42,704 | 1.25 | £1,156 | £530 | £8,501 | £5,519 |
| 11 | 2033 | £33,867 | £42,078 | 1.25 | £1,230 | £522 | £9,732 | £6,041 |
| 12 | 2034 | £34,714 | £41,369 | 1.25 | £1,307 | £513 | £11,038 | £6,554 |
| 13 | 2035 | £35,582 | £40,575 | 1.25 | £1,385 | £502 | £12,423 | £7,056 |
| 14 | 2036 | £36,471 | £39,692 | 1.25 | £1,465 | £491 | £13,888 | £7,546 |
| 15 | 2037 | £37,383 | £38,718 | 1.25 | £1,547 | £478 | £15,435 | £8,024 |
| 16 | 2038 | £38,318 | £37,649 | 1.25 | £1,631 | £464 | £17,066 | £8,488 |
| 17 | 2039 | £39,276 | £36,482 | 1.25 | £1,717 | £449 | £18,783 | £8,937 |
| 18 | 2040 | £40,257 | £35,213 | 1.25 | £1,806 | £432 | £20,589 | £9,369 |
| 19 | 2041 | £41,264 | £33,840 | 1.25 | £1,896 | £414 | £22,485 | £9,783 |
| 20 | 2042 | £42,295 | £32,358 | 1.25 | £1,989 | £395 | £24,474 | £10,179 |
| 21 | 2043 | £43,353 | £30,765 | 1.25 | £2,084 | £375 | £26,558 | £10,553 |
| 22 | 2044 | £44,437 | £29,055 | 1.25 | £2,182 | £353 | £28,740 | £10,906 |
| 23 | 2045 | £45,548 | £27,226 | 1.25 | £2,282 | £329 | £31,022 | £11,235 |
| 24 | 2046 | £46,686 | £25,273 | 1.25 | £2,384 | £304 | £33,406 | £11,539 |