National statistics

UK comparisons - to financial year 2023

Published 15 June 2023

Outstanding income contingent student loans balance

Figure 1a: Total balance of ICR Student Loans by government administration that funded the loan - 2013-14 to 2022-23

Figure 1b: Total balance of ICR Student Loans by government administration that funded the loan (excl. England HE) - 2013-14 to 2022-23

• Figures taken from Table 1 (Table 1a and 1b for England) of the individual publications.
• Data is effective 31st March.

The outstanding balance is increasing for all government administrations. At this point in time the new lending and the interest added to all borrower accounts outweighs the repayments being made by those borrowers who are now liable to repay.

The data is shown below here:

Financial year	England (HE)	Wales	Northern Ireland	Scotland	HE total	England (FE)	UK grand total
2013-14	54.4	2.6	2.2	3.1	62.2	0.1	62.3
2014-15	64.7	2.9	2.4	3.5	73.6	0.2	73.8
2015-16	76.3	3.3	2.7	4.0	86.2	0.4	86.6
2016-17	89.3	3.7	3.0	4.5	100.5	0.6	101.1
2017-18	104.5	4.1	3.3	5.0	116.8	0.8	117.7
2018-19	121.8	4.7	3.6	5.5	135.6	1.0	136.7
2019-20	140.1	5.3	3.8	6.0	155.2	1.2	156.5
2020-21	160.6	6.2	4.1	6.5	177.3	1.4	178.8
2021-22	181.6	7.1	4.4	7.0	200.0	1.5	201.6
2022-23	205.6	8.0	4.7	7.6	225.9	1.7	227.5

Download the data for figure 1a and 1b (ODS, 6KB)

Average loan balance on entry into repayment

Figure 2: Average loan balance on entry into repayment by government administration that funded the loan - 2010-11 to 2022-23

• Figures taken from Table 5A(iii) in the individual publications.
• Data is effective 30th April.

There are differences between the government administrations in the amount of maintenance loan available which influences the total balance when graduating or otherwise leaving higher education. On top of the maintenance loan there is a significant difference in the fees charged and, hence, the fee loan added to the maintenance loan. For the Scotland government administration only those students studying elsewhere in the UK are charged fees.

The average loan balance for the 2016 (FY 2015-16) repayment cohort on entry into repayment is articificialy lowered for England and Wales because post-2012 entrants who withdrew from their course or were on short courses did not become liable to repay until April 2016. This means that the England and Wales 2016 cohorts include proportionately more borrowers with fewer loans than the previous cohorts. Both administrations introduced part time Tuition Fee Loans as well where the borrowers will have a lower balance. For England the average still increased compared to the previous cohort because it includes borrowers subject to fee loans of up to £9,250. In Wales the higher fee level is offset by a tuition fee grant so their average has gone down.

The data is shown below here:

Financial year	England	Wales	Northern Ireland	Scotland
2010-11	£16,160	£13,090	£14,920	£6,040
2011-12	£16,990	£13,500	£15,680	£6,510
2012-13	£18,620	£14,840	£16,800	£6,930
2013-14	£20,040	£17,240	£17,340	£7,490
2014-15	£21,160	£19,000	£18,040	£9,480
2015-16	£24,400	£15,970	£19,610	£10,410
2016-17	£32,330	£19,120	£20,840	£11,720
2017-18	£34,450	£21,440	£22,310	£13,200
2018-19	£35,670	£22,770	£23,250	£13,690
2019-20	£40,010	£24,860	£23,270	£13,930
2020-21	£44,740	£27,520	£24,440	£15,130
2021-22	£44,730	£33,560	£23,920	£14,770
2022-23	£44,940	£35,780	£24,500	£15,430

Download the data for figure 2 (ODS, 6KB)

Average repayment per year via HMRC

Figure 3: Average annual amount repaid by ICR Student Loan borrowers via HMRC, by government administration that funded the loan - 2009-10 to 2022-23

• Figures taken from Table 4A(iii) of the individual publications.
• Financial year 2022-23 is marked as provisional as the 2022-23 Self-Assessment earnings information is received from HMRC after the 30 April effective date. The final figure is shown in the following years’ publication.
• Data is effective 30th April.

The increase in the average repayment amount is caused by income growth in the years after leaving HE. In the tax years from 2005-06 up to and including 2011-12 the income threshold was pegged at £15,000. Hence, it reduced in real terms so any increase in earnings in real terms would lead to increased repayments.

In tax year 2012-13 the income threshold was increased to £15,795 leading to a drop in the average repayment amount. It was increased again in 2013-14 to £16,365.

For later years there will be downward pressure on the average as borrowers start to fully repay or move to Direct Debit in order to complete repayment without over-repaying. At the point they fully repay or move to Direct Debit they are more likely to be repaying at a level above the average of those left in the cohort at that point.

The data is shown below here:

Financial year	England	Wales	Northern Ireland	Scotland
2009-10	£830	£730	£740	£640
2010-11	£870	£770	£780	£670
2011-12	£890	£790	£800	£700
2012-13	£870	£770	£780	£680
2013-14	£870	£780	£780	£680
2014-15	£880	£780	£790	£680
2015-16	£910	£800	£800	£670
2016-17	£920	£800	£810	£650
2017-18	£950	£820	£840	£650
2018-19	£980	£840	£860	£660
2019-20	£920	£790	£830	£660
2020-21	£940	£800	£890	£690
2021-22	£990	£820	£950	£580
2022-23	£1,100	£900	£1,060	£660

Download the data for figure 3 (ODS, 5KB)

Average scheduled repayment per year

Figure 4: Average annual amount repaid by ICR Student Loan borrowers via scheduled repayments made directly to SLC, by government administration that funded the loan - 2009-10 to 2022-23

• Figures taken from Table 4C(iii) of the individual publications (Table 4B(iii) for Scotland).
• Data is effective 30th April.

Borrowers who are overseas repay their loans via scheduled repayments directly to SLC. Borrowers who are within 24 months of repaying their loan can come out of the HMRC repayment system and complete their repayment via scheduled repayments directly to SLC. The figures also include repayment of arrears directly to SLC.

In regards to England, Wales and Northern Ireland, the balance of direct repayments categorised as scheduled and voluntary has started to change in financial year 2017-18 due to a change in the system used by SLC to recover loan overpayments. For accounts in all cohorts up to and including 2017 these recoveries were recorded as voluntary repayments. For accounts in the 2018 cohort onwards there is a special category of repayment for loan overpayment recovery which can be included in the scheduled repayment category. This has contributed to the increased average for these domiciles.

The data is shown below here:

Financial year	England	Wales	Northern Ireland	Scotland
2009-10	£500	£460	£500	£460
2010-11	£660	£670	£690	£600
2011-12	£780	£870	£810	£680
2012-13	£830	£790	£840	£700
2013-14	£810	£780	£830	£660
2014-15	£790	£760	£830	£620
2015-16	£760	£720	£750	£590
2016-17	£760	£620	£780	£560
2017-18	£800	£660	£850	£570
2018-19	£1,030	£820	£960	£790
2019-20	£990	£780	£960	£810
2020-21	£1,030	£820	£980	£870
2021-22	£960	£770	£990	£780
2022-23	£960	£760	£1,000	£830

Download the data for figure 4 (ODS, 5KB)

Average voluntary repayment per year

Figure 5: Average annual amount repaid by ICR Student Loan borrowers via voluntary repayments made directly to SLC, by government administration that funded the loan - 2009-10 to 2022-23

• Figures taken from Table 4E(iii) of the individual publications (Table 4C(iii) for Scotland).
• Data is effective 30th April.

Voluntary repayments are paid directly by borrowers to SLC. The repayments can be made at any time (before or after reaching the Statutory Repayment Due Date) and can be paid alongside scheduled repayments (via HMRC or directly to SLC via a repayment schedule from overseas). The data does not currently contain a separate category for recovery of loan overpayments so that type of repayment also appears within these voluntary repayment figures.

In regards to England, Wales and Northern Ireland, the balance of direct repayments categorised as scheduled and voluntary has started to change in financial year 2017-18 due to a change in the system used by SLC to recover loan overpayments. For accounts in all cohorts up to and including 2017 these recoveries were recorded as voluntary repayments. For accounts in the 2018 cohort onwards there is a special category of repayment for loan overpayment recovery which can be included in the scheduled repayment category. The data to restate the history is not currently available.

The data is shown below here:

Financial year	England	Wales	Northern Ireland	Scotland
2009-10	£2,560	£1,980	£2,020	£1,580
2010-11	£2,760	£2,180	£2,020	£1,600
2011-12	£2,450	£810	£1,810	£1,440
2012-13	£2,120	£820	£1,530	£1,280
2013-14	£2,140	£1,000	£1,430	£1,290
2014-15	£1,840	£940	£1,280	£1,290
2015-16	£1,780	£890	£1,180	£1,270
2016-17	£2,230	£1,050	£1,260	£1,410
2017-18	£2,410	£1,240	£1,250	£1,420
2018-19	£2,540	£1,420	£1,190	£1,500
2019-20	£2,740	£1,500	£1,290	£1,780
2020-21	£2,710	£1,550	£1,470	£1,640
2021-22	£2,850	£1,760	£1,430	£1,560
2022-23	£3,800	£2,230	£1,700	£1,980

Download the data for figure 5 (ODS, 5KB)

Contact details

• Issued by: The Student Loans Company, 100 Bothwell Street, Glasgow, G2 7JD
• Press Office: press_office@slc.co.uk
• Lead Official for Statistics: enterprise_data_analytics@slc.co.uk
• Online: SLC Statistics.