2.32 million students per year and approx. £60,000 of debt each. Where’s it going?

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In 2016-2017 there were 2.32 million students studying at a UK higher education institution. Including 1.76 million undergraduate students and 551,585 post graduate students. If we estimate that each student will leave university with around £60,000 of debt and times that by the amount of students (2.32 million) we are given the figure of 139,200,000,000. That figure is one hundred and thirty nine billion, two hundred million per year. This is disregarding the fact that some students extend their course to 4 years instead of 3 which could up their debt to around £80,000. 73% of students will never end up paying off their debt as it is written off 30 years after graduation. The government must be benefiting from this more than they are making out and university fees are going up, meaning less and less people are paying them back. In an ironic way the government are practically paying themselves... or using tax payers money to fund our university fees and keeping it for themselves. Where does our money go? Why are university fees so expensive? If we never pay them back why even charge? We want these questions answered, we want an explanation to our stress and money worries at the age of 21/22 when we are barely adults.