Question to the Department for Education:

To ask the Secretary of State for Education, whether she has set a target for an expected reduction in the level of student debt between now and 2029.

Education is a devolved matter, and the response outlines the information for England only.

The projected outstanding student loan balance through to the 2073/74 financial year is available here: https://explore-education-statistics.service.gov.uk/find-statistics/student-loan-forecasts-for-england/2024-25#section-long-term-student-loan-projections.

There is no expectation for a reduction in the overall nominal level of student loan debt. As demonstrated in the data, the department expect the outstanding student loan balance to grow, with more students attending higher education and the forecasted level of annual outlay for new student loans expected to exceed the forecasted level of repayments received from existing borrowers each year.