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#16 ?17 billion are loaned to students every year

step 1.3 million students make an application for that loan on a yearly basis; ?17 million is provided with out in student education loans to the new college students every informative year.

#17 The present day rate of interest to own British college loans is six.1%

1% and that accrues higher appeal costs – college students owe ?5,800 in the appeal just before it scholar! The brand new ascending interest rates have a critical impact on the overall improve from beginner debt.

#18 5.3 million people in the united kingdom have an excellent beginner financial obligation

The entire level of individuals in britain one to are obligated to pay pupil personal debt is 5.step 3 million, which shows a growth off six% regarding previous age.

#19 There clearly was a 30% boost in figuratively speaking anywhere between 2016 and 2018

Ranging from 2016 and you can 2018, the amount of student education loans enhanced by 30% because of a boost in lifestyle criteria, the increase away from tuition charges from the dos%, and an increase in student education loans rates in the uk. The newest expanding number of college loans means that you will find a rise inside the beginner financial obligation too. (more…)