How much student loan debt is there in the UK?
The balance of higher education student loans for borrowers from England reached £294.6 billion at the end of the 2025-26 financial year, up from £266.6 billion a year earlier, according to the Student Loans Company's Student loans in England: financial year 2025-26, published on 18 June 2026. Undergraduate lending that year was £20.5 billion.
The average balance of higher education borrowers entering repayment in 2025/26 was £47,730. SLC also publishes separate releases for borrowers from Scotland, Wales and Northern Ireland, so a UK total means adding them together.
The balance grows because new lending and interest outweigh repayments, and it includes loans that will never be repaid. Check whether a figure is for England or the UK, and for higher education only or also further education.
The latest figure
Past values
| Year | Average for the year |
|---|---|
| 2026 | 8.98% |
| 2025 | 7.03% |
| 2024 | 7.85% |
| 2023 | 7.8% |
| 2022 | 6.12% |
| 2021 | -3.4% |
Read from the Bank of England data file. Every value since 1994.
This figure is read from the publisher every six hours, so it may be newer than the answer above. More on it: UK consumer credit growth.
When is the next figure out?
Monthly, in the Bank's Money and Credit release near the end of the following month; August 2026 data were published on 29 September 2026
Every official release due in the next two weeks is on the release calendar.
Terms used in this answer
- Seasonally adjustedFigures that have had regular calendar patterns removed, such as Christmas shopping or summer jobs, so that underlying movements between months or quarters can be seen.
- Year-on-year changeThe change between a figure for one period and the same period twelve months earlier, such as March this year compared with March last year.
- Cash termsA money figure stated at the prices of the time it refers to, with no adjustment for inflation. Also called nominal terms.
- Bank RateThe interest rate the Bank of England pays on reserves held by commercial banks. Set by the Monetary Policy Committee, it is often called the base rate.
Where the figures come from
- Higher education and student finance statistics (HESA, Student Loans Company, Office for Students and DfE)Official figures on UK student numbers, international students, student loan debt, graduate earnings, university finances and apprenticeships.
- Home Office statistics (immigration, borders and policing)Find Home Office figures on small boat arrivals, asylum, hotels, visas, returns, detention, police numbers and stop and search, and how to read them.
Related questions
- When are student loans written off?
- How much are student loan repayments?
- How much are university tuition fees in the UK?
This answer says where the official figures are published and how they are defined. It gives no verdict on any claim. To report an error, send a correction request. More questions about universities and student finance: all Universities and student finance questions.