Graduates buckled by staggering amounts of student debt

Student debt has grown eye-watering amounts pushing some grads to breaking point

UK borrowers have become burdened with excessive amounts of student debt, as interest on loans continues to climb.

According to a freedom of information request submitted to the Student Loans Company (SLC) by asset manager Royal London, at the end of June 150,453 people had loans of £100,000 or more.

This was a 33 per cent jump from the January figures of 113,029 people.

It is also roughly double the average amount borrowers owe when leaving university , according to the SLC.

Strikingly, more than 2.6m borrowers owed over £50,000 in student debt, with the highest balance hitting an eye-watering £300,000.

The sharp rise in student debt has been credited to rising tuition fees, which increased 3.1 per ce