Most In-Debt Student Over GBP66k In The Red

Thu, 24 Mar 2011

The BBC has revealed that the largest student debt in England currently stands at a staggering £66,150.

A Freedom of Information request by the broadcasting giant also discovered that students and graduates with the 20 largest loans collectively owe more than £1 million to the Student Loans Company.

All but one of the graduates involved studied at London institutions, where loans for living costs are higher, and were on courses that lasted a minimum of five years, such as medicine and law.

Universities Minister David Willetts said the debt figures were "unusual", but added that those people were likely to have substantial earnings later on in life.

The disclosure came after MPs voted to allow universities to charge tuition fees of up to £9,000 last December.

Lynne Condell, chairwoman of the National Association of Student Money Advisers, said students should not be put off furthering their education by the prospect of debt .

"There's so much value in going to university," she commented. "It's not just about the money … it's a life-changing experience."
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