Last updated: 30 October 2026 · Data for the financial year 2025-26 (balances at 31 March 2026), published 18 June 2026 · Compiled by IVA Advice Online from Student Loans Company official statistics
How much do people owe on student loans, and how is it being repaid? This page brings together the latest official figures from the Student Loans Company (SLC): the total balance by repayment plan, how many people are repaying, the average debt when repayments start, how much is lent, added in interest, repaid and written off, and this year's interest rates. It also explains how student loans are treated in an IVA, a debt relief order or bankruptcy.
How much student loan debt is there in England?
The higher education student loan balance funded by Student Finance England was £294.6bn at 31 March 2026, up from £266.6bn a year earlier.1 It grows each year because new lending and interest added are larger than repayments and write-offs. The chart splits the balance by repayment plan.
Source: Student Loans Company, Student loans in England 2025-26, Table 1A.1 Includes loans to EU students who studied in England. Plan 2 includes part-time loans; Plan 3 covers Master's and Doctoral loans.
- Plan 2 loans (courses started from September 2012 to July 2023) make up 76.1% of the balance, £224.2bn.1
- Plan 5 loans, for courses started from August 2023, already total £30.8bn, 10.4% of the balance, up from £14.2bn a year earlier.1
- Plan 1 loans (courses started before September 2012) are shrinking as they are repaid or written off, down to £31.8bn (10.8%).1
- Postgraduate loans total £7.9bn (2.7%).1
- £229.9bn (78%) of the balance is owed by people who have passed the date they became due to repay.1 The rest belongs to students and recent leavers.
View the balance by plan for every year
| Year | Plan 1 | Plan 2 | Postgraduate (Plan 3) | Plan 5 | Total |
|---|---|---|---|---|---|
| 2016–17 | £44.1bn | £45.0bn | £0.3bn | – | £89.3bn |
| 2017–18 | £42.5bn | £61.0bn | £0.9bn | – | £104.5bn |
| 2018–19 | £41.0bn | £79.1bn | £1.7bn | – | £121.8bn |
| 2019–20 | £38.2bn | £99.4bn | £2.5bn | – | £140.1bn |
| 2020–21 | £36.4bn | £120.8bn | £3.4bn | – | £160.6bn |
| 2021–22 | £34.6bn | £142.7bn | £4.4bn | – | £181.6bn |
| 2022–23 | £33.0bn | £167.3bn | £5.2bn | – | £205.6bn |
| 2023–24 | £32.7bn | £193.7bn | £6.1bn | £3.7bn | £236.2bn |
| 2024–25 | £32.3bn | £213.1bn | £7.0bn | £14.2bn | £266.6bn |
| 2025–26 | £31.8bn | £224.2bn | £7.9bn | £30.8bn | £294.6bn |
Student loan debt across the UK
Each UK nation funds its own student loans. Together they were owed £324.8 billion at 31 March 2026, up from £294.1 billion a year earlier.2
| Funded by | Balance 2024-25 | Balance 2025-26 | Average balance on entering repayment, 2025-26 | Average repayment via HMRC, 2025-26 |
|---|---|---|---|---|
| England | £266.6bn | £294.6bn | £47,730 | £1,260 |
| Wales | £10.6bn | £11.8bn | £44,830 | £1,050 |
| Northern Ireland | £5.6bn | £6.0bn | £29,180 | £1,100 |
| Scotland | £9.4bn | £10.4bn | £21,000 | £750 |
| England (further education loans) | £1.9bn | £2.0bn | – | – |
| UK total | £294.1bn | £324.8bn |
Source: Student Loans Company, UK comparisons to financial year 2026.2 The UK total is an IVA Advice Online calculation (sum of the nations). 2025-26 repayments via HMRC are provisional. Averages differ partly because of fee levels: Scottish-funded students are only charged tuition fees if they study elsewhere in the UK.2
How many people have a student loan?
In 2025-26, 7,285,221 people had a higher education loan balance with Student Finance England (including EU students who studied in England). Of these, 6,029,137 had reached the date they were due to start repaying and 1,256,084 hadn't yet.1
- 82.2% of borrowers due to repay were in the UK tax system, and 51.1% (3.08 million) made a repayment through it during the year.1
- 1,130,881 (18.8%) were working but earning below the repayment threshold.1
- 89,083 borrowers living overseas were in arrears on their repayments.1
- On average, borrowers repaying through the tax system paid £1,260 in 2025-26 (provisional).2
- Across everyone with a balance, the average owed is about £40,436 (IVA Advice Online calculation: total balance divided by borrowers).1
View borrowers by repayment status
| Status | Borrowers | Share of those due to repay |
|---|---|---|
| In the UK tax system, made a repayment in 2025-26 | 3,081,457 | 51.1% |
| In the UK tax system, earning below the threshold | 1,130,881 | 18.8% |
| In the UK tax system, no current employment record | 206,284 | 3.4% |
| Awaiting first tax year data | 539,477 | 8.9% |
| Not required to repay at this point (for example, still studying) | 684,783 | 11.4% |
| Living overseas, repaying | 61,140 | 1.0% |
| Living overseas, in arrears | 89,083 | 1.5% |
| Living overseas, below the threshold or no income details | 143,250 | 2.4% |
| Status to be confirmed | 92,782 | 1.5% |
| Borrowers liable to repay | 6,029,137 | 100% |
| Plus: borrowers not yet due to repay (future cohorts) | 1,256,084 | |
| All borrowers with a balance | 7,285,221 |
Source: SLC, Table 3A (i), effective 30 April 2026, figures rounded to the nearest 100 by SLC.1 The future cohorts total was corrected by SLC on 2 July 2026.
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Average student loan debt when repayments start
The "balance on entering repayment" is what a borrower owes in the April after they leave their course: the money paid out, plus interest added while studying, minus any early repayments.1 Choose a nation to compare.
Sources: SLC, Student loans in England 2025-26, Table 5A (iii)1; SLC, UK comparisons to financial year 2026, Figure 2.2 The 2025-26 figure is provisional. Averages are rounded to the nearest £10 by SLC.
- In England the average was £47,730 for borrowers who became due to repay in April 2026, down from £53,000 a year earlier. SLC says the fall is because the first Plan 5 borrowers joined this group.1
- The average was £10,050 for the 2007 group and £24,390 for 2016. Groups from 2016 onwards include Plan 2 borrowers, whose tuition fee loans were capped at around £9,000 to £9,250 a year, so their averages are much higher.2
- In 2025-26 the average was £44,830 in Wales, £29,180 in Northern Ireland and £21,000 in Scotland.2
View averages by year and nation
| Year | England | Wales | Northern Ireland | Scotland |
|---|---|---|---|---|
| 2010–11 | £16,160 | £13,090 | £14,910 | £6,050 |
| 2011–12 | £16,990 | £13,500 | £15,680 | £6,530 |
| 2012–13 | £18,620 | £14,840 | £16,800 | £6,940 |
| 2013–14 | £20,040 | £17,250 | £17,340 | £7,510 |
| 2014–15 | £21,160 | £19,020 | £18,040 | £9,500 |
| 2015–16 | £24,390 | £15,980 | £19,600 | £10,460 |
| 2016–17 | £32,330 | £19,140 | £20,840 | £11,790 |
| 2017–18 | £34,450 | £21,490 | £22,310 | £13,310 |
| 2018–19 | £35,670 | £22,820 | £23,250 | £13,810 |
| 2019–20 | £39,990 | £24,920 | £23,280 | £14,120 |
| 2020–21 | £44,720 | £27,600 | £24,430 | £15,300 |
| 2021–22 | £44,640 | £33,590 | £23,760 | £14,950 |
| 2022–23 | £44,380 | £35,490 | £23,990 | £15,530 |
| 2023–24 | £48,250 | £37,170 | £25,430 | £16,680 |
| 2024–25 | £53,000 | £39,350 | £27,860 | £18,050 |
| 2025–26 | £47,730 | £44,830 | £29,180 | £21,000 |
| Cohort | Average balance |
|---|---|
| 2007 | £10,050 |
| 2008 | £10,870 |
| 2009 | £11,770 |
| 2010 | £14,670 |
| 2011 | £16,160 |
| 2012 | £16,990 |
| 2013 | £18,620 |
| 2014 | £20,040 |
| 2015 | £21,160 |
| 2016 | £24,390 |
| 2017 | £32,330 |
| 2018 | £34,450 |
| 2019 | £35,670 |
| 2020 | £39,990 |
| 2021 | £44,720 |
| 2022 | £44,640 |
| 2023 | £44,380 |
| 2024 | £48,250 |
| 2025 | £53,000 |
| 2026 | £47,730 |
Lending, interest, repayments and write-offs
Source: SLC, Table 1A.1 Repayments are net of refunds. 2019-20 includes almost two years of repayments and interest because of a change in how HMRC passes data to SLC.
- SLC lent £21.3bn in 2025-26 and added £12.2bn of interest.1
- Interest added fell by 19.4% because inflation (RPI), which sets the rates, came down.1
- Borrowers repaid £5.3bn (net of refunds), including £4.4bn collected through the tax system.1
- Interest added in 2025-26 was more than twice the amount repaid. IVA Advice Online calculation.1
View the yearly figures
| Year | Lent | Interest added | Repaid (net) | Cancelled or written off | Balance at 31 March |
|---|---|---|---|---|---|
| 2016–17 | £13.4bn | £1.7bn | £2.0bn | £29.7m | £89.3bn |
| 2017–18 | £15.0bn | £2.5bn | £2.3bn | £37.1m | £104.5bn |
| 2018–19 | £16.2bn | £3.7bn | £2.5bn | £41.2m | £121.8bn |
| 2019–20 | £17.4bn | £5.7bn | £4.8bn | £39.4m | £140.1bn |
| 2020–21 | £18.9bn | £4.7bn | £3.0bn | £53.7m | £160.6bn |
| 2021–22 | £19.8bn | £4.7bn | £3.4bn | £63.4m | £181.6bn |
| 2022–23 | £19.9bn | £8.3bn | £4.2bn | £58.6m | £205.6bn |
| 2023–24 | £20.1bn | £15.3bn | £4.6bn | £101.1m | £236.2bn |
| 2024–25 | £20.6bn | £15.2bn | £5.0bn | £303.9m | £266.6bn |
| 2025–26 | £21.3bn | £12.2bn | £5.3bn | £246.8m | £294.6bn |
When student loans are written off
Student loans are cancelled in line with the terms of the loan, for example when the borrower reaches a specific age, becomes permanently disabled or dies.1 In 2025-26, 11,273 borrowers in England had loans cancelled or written off, worth £246.8 million.1
| Reason | Borrowers | Amount | Average per borrower |
|---|---|---|---|
| Death | 7,180 | £197.3m | £27,480 |
| Reaching the age limit | 3,825 | £43.2m | £11,300 |
| Disability | 172 | £5.5m | £31,990 |
| Completed IVA (retrospective clear-up only) | 52 | negligible | – |
| All cancellations and write-offs | 11,273 | £246.8m | £21,900 |
Source: SLC, Tables 1A and 2A.1 Excludes "trivial" balances of £25 or less. SLC says it is clearing a backlog of death and age-related cases, which raised the numbers in 2024-25 and 2025-26.
Student loan interest rates and repayment thresholds 2026-27
You repay a share of your income above the threshold for your plan, whatever you owe. Interest is added whether or not you are repaying.4
| Plan | Who it covers | Yearly threshold | Interest rate | You repay |
|---|---|---|---|---|
| Plan 1 | England and Wales: courses started before 1 September 2012. Northern Ireland: all students. | £26,900 | 4.1% | 9% |
| Plan 2 | England: courses started 1 September 2012 to 31 July 2023. Wales: undergraduate courses started on or after 1 September 2012. | £29,385 | 4.1% to 6%, depending on income | 9% |
| Plan 4 | Scotland: all students. | £33,795 | 4.1% | 9% |
| Plan 5 | England: courses started on or after 1 August 2023. | £25,000 | 4.1% | 9% |
| Postgraduate Loan (Plan 3) | Master's and doctoral loans (England and Wales). | £21,000 | 6% | 6% |
Sources: GOV.UK, Repaying your student loan (checked 30 October 2026)4; Student Loans interest rates announcement, 10 August 2026.3
- Interest rates are based on the Retail Prices Index (RPI) for the previous March, which was 4.1% for 2026-27.3
- Plan 2 and postgraduate loans would normally be charged up to RPI + 3% (7.1%). The government has capped them at 6% from 1 September 2026 to 31 August 2027.3
- On Plan 2, people earning £29,385 or less are charged 4.1%, rising on a sliding scale to 6% for those earning £52,885 or more.4
- The Plan 1 threshold rises to £28,005 from 6 April 2027.3
View interest rates since 2016
| Period | RPI (March) | Plan 1 | Plan 2 maximum | Postgraduate | Plan 5 |
|---|---|---|---|---|---|
| Sep 2016 to Aug 2017 | 1.6% | 1.25% | 4.6% | 4.6% | – |
| Sep 2017 to Aug 2018 | 3.1% | 1.5% | 6.1% | 6.1% | – |
| Sep 2018 to Aug 2019 | 3.3% | 1.75% | 6.3% | 6.3% | – |
| Sep 2019 to Aug 2020 | 2.4% | 1.75% | 5.4% | 5.4% | – |
| Sep 2020 to Aug 2021 | 2.6% | 1.1% | 5.6% | 5.6% | – |
| Sep 2021 to Aug 2022 | 1.5% | 1.5% | 4.5% | 4.5% | – |
| Sep 2022 to Aug 2023 | 9% | 5% | 6.9% | 6.9% | – |
| Sep 2023 to Aug 2024 | 13.5% | 6.25% | 7.7% | 7.7% | – |
| Sep 2024 to Aug 2025 | 4.3% | 4.3% | 7.3% | 7.3% | – |
| Sep 2025 to Aug 2026 | 3.2% | 3.2% | 6.2% | 6.2% | 3.2% |
| Sep 2026 to Aug 2027 | 4.1% | 4.1% | 6% (capped) | 6% (capped) | 4.1% |
Sources: SLC, Income contingent student loan repayment plans and interest rates (England), annex to the 2025-26 release1; interest rates announcement 2026.3 Rates were also temporarily capped at times between 2021 and 2024 to stay in line with market rates.
Student loans in an IVA, debt relief order or bankruptcy
Student loans are treated differently from most other debts:
- IVAs and bankruptcy: in England, Wales and Northern Ireland, Plan 1, 2, 3 and 5 student loans are not included in an individual voluntary arrangement or in bankruptcy debts.5 The loan carries on, and repayments continue through your salary if you earn over the threshold.
- Debt relief orders: student loans are an "excluded debt", so they can't be included in a DRO.6
- The Student Loans Company says write-offs for bankruptcy, IVAs or trust deeds "are no longer allowed against Student Loans balances". The 52 IVA-related write-offs recorded in 2025-26 (116 in 2024-25) come from retrospective clear-up exercises.1
- Student loans don't appear on credit reports, though lenders may take repayments into account when checking affordability.4
For how other debts are treated, see what debts can be included in an IVA, what a debt relief order is and bankruptcy explained.
About the data
- England figures are from the Student Loans Company's accredited official statistics, published 18 June 2026 and corrected on 2 July 2026 (future cohort borrower totals only). Balances are at 31 March 2026; borrower and repayment figures are at 30 April 2026.1
- The figures cover income-contingent loans (from 1998 onwards). Older "mortgage-style" loans aren't included.1
- Repayments via Self Assessment for 2025-26 aren't in yet, so 2025-26 repayment averages are provisional and usually rise when finalised.1
- England figures include EU students who studied in England. Further education (Advanced Learner) loans in England are shown separately and total £2.0 billion.2
Common questions
How much student loan debt is there in the UK?
Student loans outstanding across the UK totalled about £324.8 billion at 31 March 2026. Of this, £294.6 billion was higher education loans funded by England, £11.8 billion Wales, £10.4 billion Scotland and £6.0 billion Northern Ireland. Source: Student Loans Company.
What is the average student loan debt?
Borrowers in England who became due to repay in April 2026 owed £47,730 on average when repayments started, down from £53,000 for the 2025 group, because the first Plan 5 borrowers (who tend to have smaller balances so far) joined. Across all 7.29 million borrowers with a balance, the average is about £40,436 (IVA Advice Online calculation).
How many people have a student loan in England?
7.29 million people had a higher education student loan balance with Student Finance England in 2025-26, including 1.26 million who weren't yet due to repay. Of the 6.03 million due to repay, 51.1% made a repayment during the year.
What is the student loan interest rate in 2026-27?
From 1 September 2026, Plan 1, Plan 4 and Plan 5 loans are charged 4.1% (the March 2026 RPI). Plan 2 loans are charged between 4.1% and 6% depending on income, and Postgraduate Loans 6%, because the government has capped Plan 2 and Plan 3 rates at 6% until 31 August 2027.
Can student loans be included in an IVA, DRO or bankruptcy?
No. Plan 1, 2, 3 and 5 student loans are not included in an IVA or in bankruptcy debts in England, Wales and Northern Ireland, and student loans are an excluded debt in a debt relief order. You keep repaying through your salary as normal if you earn over the threshold. The Student Loans Company says write-offs for bankruptcy, IVAs or trust deeds are no longer allowed.
Are student loans written off?
Yes, in certain cases. Loans are cancelled in line with their terms, for example at a specific age, on permanent disability or on death. In 2025-26, 11,273 borrowers in England had loans cancelled or written off, worth £246.8 million. This excludes small balances of £25 or less.
Using these statistics
You're welcome to use the figures on this page. Please credit the original source shown for each figure, and link to this page if it helped you find them:
Source: IVA Advice Online, "Student Loan Debt Statistics UK", https://ivaadviceonline.com/student-loan-debt-statistics/Download the data (CSV) – balances by plan, lending, interest, repayments and write-offs for England (2016-17 to 2025-26), balances and averages for all four UK nations, and average balances by repayment cohort. Contains public sector information licensed under the Open Government Licence v3.0.
Sources
- Student Loans Company, Student loans in England: financial year 2025-26 (accredited official statistics), Tables 1A, 2A, 3A and 5A and footnotes, published 18 June 2026, corrected 2 July 2026.
- Student Loans Company, UK comparisons: to financial year 2026, Figures 1 to 3, published 18 June 2026.
- Student Loans Company, Student Loans Interest Rates and Repayment Threshold Announcement, 10 August 2026.
- GOV.UK, Repaying your student loan and Which repayment plan you're on, checked 30 October 2026.
- The Education (Student Loans) (Repayment) Regulations 2009, regulation 80 (effect of bankruptcy and IVAs on plan 1, 2, 3 and 5 loans).
- The Insolvency (England and Wales) Rules 2016, rule 9.2 (debts excluded from a debt relief order).
This page provides general information, not advice about your circumstances.