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Dept for Education and Skills

Answer

Mr. Andrew Turner: To ask the Secretary of State for Education and Skills what the average debt to (a) the Student Loans Company and (b) others was of a higher education student graduating in each year since 1997. [105943] Margaret Hodge: Borrowers are liable to repay their loans from the April following graduation or otherwise leaving their course. The table shows estimates of average student loan debt on entering repayment status for borrowers who became liable to repay their loans in financial years 1998-99 to 2002-03. Figures include those on shorter courses as well as those who have left higher education early. Average student loan debt on entering repayment status1, 2 £ _________________________________________________________________________________________________. Financial year entered repayment status3 Mortgage style loans4, 5 Income contingent loans6 1998-99 2,870 7-- 1999-2000 3,340 7-- 2000-01 3,920 2,340 2001-02 4,500 3,530 2002-03 5,160 6,000 _________________________________________________________________________________________________. 1 Data rounded to nearest 10. Includes interest. 2 Excludes any repayments which may have been made before borrowers enter repayment status. 3 Borrowers enter repayment status in the April following their graduation or otherwise leaving their course. 4 Loans made to students who entered higher education up to 1997-98 or who entered in 1998-99 under existing arrangements. Includes loans repayable to the private sector following the sale of two portfolios of student loans. 5 Includes loans sold in the two portfolios of student loans which are administered by the Student Loans Company. 6 Loans, repayable on an income contingent basis, available to students who entered higher education from academic year 1998-99. These loans were subject to a repayment holiday until April 2000. Includes hardship loans and the fixed rate loans (£500) to eligible part-time students. 7 Not applicable. Source: Student Loans Company Data on debts for which there is no public subsidy, such as overdrafts and credit cards, and informal debts to family and friends, are not held centrally.

Secondary information

Type

Written question

Reference

105943; 403 c555-7W

Session

2002-03

Subjects

Debts Loans Repayments Students

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk