UK grads leaving university with debt of over ₹62 lakh

Students in England are now leaving university with average debts of £53,000 (nearly ₹62.43 lakh), according to recent data from Student Loans Company (SLC). The figure represents a 10% increase from last year’s average of £48,270 (₹56.64 lakh), highlighting a growing reliance on loans to cope with rising living costs, according to a report by ET.

As per the SLC’s latest release for the 2024–25 academic year, a major gap in borrowing is noticed across the UK. In Scotland, where local students do not pay tuition, the average debt is £17,000. In Northern Ireland, it stands at £28,000, while students in Wales owe around £39,470 on average.

As the cost of living continues to rise, a growing number of students are juggling jobs alongside their studies. According to a survey by the Higher Education Policy Institute (HEPI), 68% of full-time students are now working during term time, averaging 13 hours a week—the highest figure recorded in the past decade.

Nearly three million graduates are repaying student loans. According to the SLC, 40% of those required to pay are making monthly repayments averaging £1,100 in 2024–25.

As per reports, England’s overall student loan book has now reached £266 billion, up significantly from £64 billion a decade ago following the increase in tuition fees. This figure is expected to grow further as the government raises domestic tuition fees from £9,250 to £9,535 from September 2025.