Ranked: The Russell Group universities where graduates leave with the most student loan debts

Imperial College London is the Russell Group university which graduates leave with the most student loans debt, according to a new report by the Financial Times.

The research found that Russell Group graduates with a Plan 2 student loan end up with an average balance of 52,412. That’s more than the overall average for UK universities. According to the Student Loans Company, the average higher education borrower loan balance in 2025/2026 is £47,730.

Students who attend a university away from home or live in London are eligible for larger maintenance loans, so are likely to end up with a larger debt.

Data from the Higher Education Statistics Agency (HESA) shows that students who get into high tariff, more competitive universities (such as the Russell Group universities) are more likely to relocate there, instead of living at home with their parents. This could explain why Russell Group grads typically build up larger student loan debts.

University of Glasgow students

Alumni of the University of Edinburgh and the University of Glasgow end up with the second and third largest student loan balances. In Scotland, undergraduate courses usually last for four years, not three years. This may contribute to the above-average balances.

The Financial Times calculated the average Plan 2 student loan balances for each university using data from the Student Loans Company.

Here are the Russell Group universities where graduates leave with the most student loan debts:

24. Cardiff University – 46,015.91

23. University of Warwick – 49,108.93

22. University of Exeter – 49,266.12

21. Queen’s University Belfast – 50,721.42

20. Durham University – 50,737.13

19. University College London (UCL) – 50,978.98

18. University of Birmingham – 51,072.94

17. University of Cambridge – 51,267.12

16. University of Southampton – 51,819.01

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15. University of Oxford – 51,839.68

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14. London School of Economics and Political Science (LSE) – 51,867.10

13. University of Manchester – 52,403.25

12. University of York – 52,433.54

11. King’s College London (KCL) – 52,903.18

10. Queen Mary University of London – 52,954.32

9. University of Bristol – 52,992.74

8. University of Nottingham – 53,236.38

7. University of Leeds – 53,710.64

6. Newcastle University – 53,849.12

5. University of Liverpool – 55,183.16

4. University of Sheffield – 56,237.63

3. University of Glasgow – 58,094.55

2. University of Edinburgh – 62,067.98

1. Imperial College London 63,075.19

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