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Student Loans 2006-2007
21/08/2007
Statistics on loan outlay and repayments of loans and borrower activity for Scottish domiciled students and EU students studying in Scotland during financial year 2006-07 are published today with comparable data for financial year 2005-06.
Figures are provided for the publicly owned debt only.
This is the first year that figures for Scotland have been published separately.
Policy changes for 2006-07
The Young Students Outside Scotland Bursary was replaced by the Students Outside Scotland Bursary for new full time Scottish domiciled students entering higher education at a UK institution outside Scotland. Previously only dependent students were eligible for the Young Students Outside Scotland Bursary. The bursary is additional to the loan support available.
KEY POINTS
- The amount lent to eligible Higher Education (HE) students for Maintenance Loans during financial year 2006-07 was £183 million, a decrease of 8 per cent when compared to 2005-06
- The amount lent to eligible HE students for Graduate Endowment loans during financial year 2006-07 was £12.1 million
- The total amount lent to eligible HE students during financial year 2006-07 was £197.6 million
- Repayments posted to customer accounts amounted to £51.5 million (including £12.2 million paid earlier than required) in the financial year 2006-07. £29.8 million of these repayments relates to Income Contingent Loans.
- During the 2006-07 financial year more than 8,600 borrowers repaid at least one of their loan accounts in full
- The balance outstanding (including loans not yet due for repayment) at the end of financial year 2006-07 was £1,845.7 million of which £1,661.6 million relates to income contingent loans
- At the end of 2006-07 there were 352,000 borrowers; of these, 249,000 had accounts in repayment status