The worth of British student loans stretched during the a particular informative seasons might have been growing year-on-year. To include an indication of how big is the uk college student mortgage markets, the worth of earnings contingent fund extended so you can English domiciled student pupils regarding academic year 2016 so you’re able to 2017 try ?a dozen.8 billion. The same figure on the academic seasons 2010 so you can 2011 is ?5.6 million and for 1995 so you’re able to 1996 are ?0.seven mil. The sooner 1995 to 1996 figure getting for everybody United kingdom youngsters and not simply English domiciled ones.
Into the 2016 so you can 2017, approximately 63% of your complete stretched financing really worth was in regards to university fees charges, whereas last year to help you 2012 which fee was dramatically reduced from the 44%, largely reflecting the increase from inside the university fees costs because the .
Mortgage get-right up
Not totally all eligible pupils choose sign up for figuratively speaking, which have figures on the SLC quoting you to definitely 87% off qualified children got aside income contingent repairs loans into the months elizabeth months, 90% out-of qualified people grabbed aside earnings contingent university fees percentage fund. (suite…)