Students: Loans

Department for Education written question – answered on 4th November 2019.

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Photo of Philip Dunne Philip Dunne Conservative, Ludlow

To ask the Secretary of State for Education, what the amount owed is in respect of loans for (a) tuition fees and (b) living costs to date; and what projections his Department has made of the amounts owed in respect of each of those loans in (i) 2025, (ii) 2030, (iii) 2040 and (iv) 2050.

Photo of Chris Skidmore Chris Skidmore Vice-Chair, Conservative Party, Minister of State (Department for Business, Energy and Industrial Strategy) (Universities and Science) (Joint with the Department for Education)

At the end of the 2018-19 financial year, the total outstanding loan balance was £121.8 billion[1].

This figure includes all loan products and covers borrowers who received loans as English domiciled students studying in the UK or as EU domiciled students studying in England.

The corresponding forecasts are detailed in table 1 (attached).

The information by product (maintenance loans/tuition fee loans) is not readily available and could only be obtained at disproportionate cost.

[1] Source: (Table 1A)

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