UK students have highest debt in English-speaking world

Students who graduate from English universities have some of the highest debt in the Anglophone world, according to a new study.

The study, carried out by the Sutton Trust, revealed that English students who graduated last year faced higher debts than other English-speaking countries, including the United States, Australia, Canada and New Zealand.

On average, by the end of their studies, students studying in England will owe around £44,000. This is significantly higher than American and Canadian graduates, who will owe around £20,500 and £15,000 respectively.

Despite higher fees in America, the range of scholarships available there mean that English students still end up owing more, despite studying for an average of three years compared to the American average of four years.

However, it must be taken into consideration that English students have clearer repayment methods than other Anglophone countries.

Most of the debt incurred by English students is held by the state, and the repayment occurs according to income.

In comparison, only a small number of students in the US repay their debt at levels relative to their income, and have higher average interest rates.

The report, entitled Degrees of Debt, made a number of recommendations based on these revelations. One suggestion is for greater coordination between the governments of England, Wales, Scotland and Northern Ireland about student funding policies.

They also proposed that the “Business, Innovation and Skills Select Committee should report on higher education funding and provision each year” and “assess the impact on disadvantaged students.”

This comes as student maintenance grants are due to be scrapped in September 2016, as part of government cuts to the budget. Critics say this will have a disproportionate effect on poorer students.

Concerns were also expressed that the figures are linked to the fact that the numbers of part-time and mature students enrolling in England has dropped in recent years.

Jamie Whelan, a first-year Mathematics student, commented: “If we want to be considered among the best countries for higher academic study in the world, then these kinds of debts are only to be expected.”