Student loan borrower number climbs along with amount loaned

In the first quarter of the year, 126,696 people borrowed from the student loan scheme, marking a 12 percent increase from the same period last year. The total amount borrowed reached $1.145 billion, a 19 percent rise or $184 million more than in 2025. Students borrowed more for fees, with a 13 percent rise in borrowing for this purpose compared to the previous year. The amounts borrowed for living costs and course-related costs also saw significant increases of 11 and 10 percent, respectively.

The trend of more borrowers begins in 2024, a shift from the long-term decline in active borrower numbers. This increase in borrowers is likely driven by the economy's performance and a slowdown in the job market. When employment opportunities are limited, more people tend to choose studying or remain in education.

The number of borrowers with overdue payments decreased by 4 percent compared to the same period last year, with 75 percent of these delinquencies originating from overseas-based borrowers. As of March 31, the total overdue amount stood at $2.7 billion, with over 46 percent ($1.2 billion) of this debt consisting of penalties and interest. Notably, 37,500 people received student allowances, an eight percent increase from the previous year.