Saturday, June 23, 2012

Thousands of EU students who attended British universities owe us £75m in taxpayer-funded loans

Thousands of European students who attended British universities are failing to repay taxpayer-backed loans worth £75million.

Of 8,700 graduates who have moved abroad, just 800 are currently making repayments.

The whereabouts of a further 9,900 EU students are unknown. Officials are waiting for them to provide their financial details.

The revelations follow the release of official figures, which also show how total outstanding student debt owed by British and EU graduates has ballooned to £40.2billion.

The figure has nearly doubled in four years – and will spiral even more sharply from September, when the upper limit for tuition fees is raised from just over £3,000 to £9,000 a year.

Students from EU member states have been eligible for special low-interest loans from British taxpayers to cover tuition fees since 2006, but cannot claim maintenance loans. Read More