Thousands of students from across European countries who attended UK universities have left without paying a penny of the £893million used to support their degrees.
The newest figures from the Student Loans Company reveal it is currently trying to track down the whereabouts of more than 42,000 former university students.
The SLC has repeatedly reaffirmed moving abroad is not a way to escape repayment of student loans.
The Government-owned company has been coordinating with authorities across the EU in an effort to locate the missing students.
Tracking graduates overseas is far more difficult than within the UK; officials can use tax records to track down borrowers who are in the UK but do not have the powers to do so overseas.
SLC has confirmed it is trying to find, in total, 121,000 former students with outstanding loans worth £3.4billion.
Of that total number, around 15,000 are thought to have moved to Australia, 7,600 to the United States, and around 5,500 to both Spain and Ireland.
There are also thought to be 5,300 graduates in the United Arab Emirites, 1,500 in China, 3,500 in Bulgaria, and 3,500 in Romania.
Migrants who have attended university and then fail to payback loans owe over almost £900million
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SLC loans are used to cover the tuition fee and living costs of students whilst they attend university.
The debt accrued becomes repayable after they leave university.
The SLC has warned that not all of those who are former students are eligible to pay back their loans.
Of those who took out loans, some may be out of work, between roles, not earning enough to meet the minimum repayment threshold or claiming benefits.
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The SLC are attempting to locate those who have not paid back their student loans
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Callum McGoldrick, investigations campaign manager at the TaxPayers' Alliance, said: “Taxpayers will be furious to see billions in student loan debt disappearing overseas while they foot the bill.
“Ministers must get serious about enforcement, or hardworking taxpayers will keep paying the price.
Christopher McGovern, chairman of the Campaign For Real Education, told the Daily Mail: “Taxpayers are being robbed.
“Non-UK students should be excluded from loans altogether and UK students should be required to provide a guarantor of repayment, such as a parent.”
An SLC spokesman said: “The vast majority of customers comply with the terms and conditions of their loan and repay through the correct channel.
“In 2024 to 2025, more than 90 per cent of customers had a verified residency and employment status.
“All are required to comply with the terms and conditions of their loans and are made aware of their responsibilities, including the requirement to tell us if they plan to live overseas for three months or more and to provide income details so that the correct repayment arrangements can be put in place.”
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