Graduate loan repayments hit record low |
| In 2024, only 44,527 graduates from Russell Group universities began repaying their student loans, a drop from the 57,000 seen in a typical year. The University of Cambridge and the University of Oxford saw the number of graduates repaying their loans within two years of getting their degree fall by 29% and 31%, respectively. The decline in the number of students paying off their debt points to a wider graduate jobs crisis, with Nick Hillman, director of the Higher Education Policy Institute, noting that graduates would be on better salaries if there was "more economic growth and better productivity." Several employers have reduced graduate positions, with PwC cutting its entry-level roles from 1,500 to 1,300. Marco Amitrano, PwC UK's senior partner, said this reflects a "wider slowdown" in investment and hiring across the economy. |
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