It has been revealed that more than £2.2 billion of student loans have still to be repaid.

The outstanding student loan balance at the end of 2008-9 was £2,227.4 million. This is the highest amount ever and 9% more than the previous year.

This is the total amount of money still to be repaid since the introduction of such educational loans. However, the amount of money loaned to students dropped by 10% to £191.3 million during 2008-9.

Education secretary Fiona Hyslop said: “In relation to the outstanding balance, the vast majority of this – 83 per cent, or £1.8 billion – was built up under previous administrations, with the total outstanding balance covering all outstanding amounts since student loans were introduced.”

She added: “Our priority is to reduce this student debt at source through the policies we are introducing to tackle hardship and improve student support.”