The highest outstanding student debt in the UK is more than £230,000. The data was released by the Student Loans Company (SLC) following a BBC Freedom of Information (FOI) request last week, with students across the country issued a warning.
SLC says graduates in England leave university with average debts of £44,940. Dr Luke Amos, a junior doctor based in Surrey, said his student debt "became almost a joke when I saw the outstanding balance break the £100,000 barrier."
"You almost become de-sensitised to how big the number is getting, although it still shocks friends and family," he said. The 27-year-old - who started a three-year course in 2015, - told the BBC: "I have no hope of paying off the loan in full.
READ MORE UK set for 867 mile storm this weekend with snow battering six areas
"It would take considerable expense to pay off a penny more than the interest, to make even the smallest dent in the outstanding amount." A spokesperson for the SLC said: "These exceptional balances are a function of government policy that in certain circumstances exempts specific courses from repeat study restrictions, permits funding for additional years of study, and results in SLC awarding additional years of funding when an individual demonstrates compelling personal reasons."
A Department for Education spokesperson said a "sustainable student finance system" fair to students and taxpayers was "vital". "We've taken action to protect students from high costs by freezing tuition fees for the 2023/24 and 2024/25 academic years", they said.
"Our reforms also mean that under the new repayment plan, no new graduate will pay back more than they originally borrowed when inflation is taken into account, and those who earn less than the repayment threshold will not have to make any repayments."
A spokesperson for website Save The Student described the wider figures as "truly eye-watering", while the NUS argued the statistics were "an indictment of our education system".
