Labour call for action on student debt
STUDENT borrowing has soared by 42 per cent since the SNP came to power on a promise to dump the debt.
Figures show debt held steady at about £6000 after 2007 but started to rise sharply after the Nats were re-elected in 2011.
The biggest spike was from 2014 and average loan balances reached £10,500 this year.
The SNP Government ditched their pledge to dump the debt after forming their first government and impartial analysis by Scottish Parliament researchers show borrowing has rocketed.
Labour education spokesman Iain Gray said: “The SNP’s decision to slash support grants and bursaries available to students from poorer backgrounds means more and more students have to turn to loans to get through their studies. Today, the poorest students rack up the highest debt in Scotland.
“A student support review will not be able to fix the SNP’s broken promise but it can suggest a better system.”
In October, Student Awards Agency Scotland figures showed spending on grants was cut by nearly half in the past five years.
However, Further and Higher Education Minister Shirley-Anne Somerville said Scotland continues to have the lowest average student loan debt in the UK.
She added: “Appropriate financial support while studying is essential and we will always take the opportunity to improve student support where we can. We have announced an independent review of further education and higher education student support to ensure the system is equitable, fair and supports all students.”