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Students at Northern Ireland universities in £2.7bn loan debt

Published 07/07/2016

Loan debt is only written off if the student has not repaid within 25 years of ending their studies.
Loan debt is only written off if the student has not repaid within 25 years of ending their studies.

Students who have attended Northern Ireland's universities owe an eye-watering £2.7billion in tuition fees and maintenance loan debts.

In Northern Ireland, students can borrow the cost of their £3,925 tuition fees and also take out a maintenance loan for living costs.

That is £3,750 if living at home and £4,840 if away from home.

Loan debt is only written off if the student has not repaid within 25 years of ending their studies.

The total for 2015/16 calculated by the Student Loans Company marks an 11% rise from the previous year's figure of £2.5billion.

Those students who had to start repaying their loans this year owe almost £19,270 on average.

Out of 210,000 students who have taken loans in Northern Ireland only 24,000 have repaid them all.

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From Belfast Telegraph