Lending to individuals - annual update of data including student loans

Lending to individuals series are published monthly by the Bank of England on an excluding student loans basis. Data including student loans have been updated to March 2015 following the publication of annual statistics by the Student Loans Company. The stock of student loans increased in the twelve months to March 2015 and, at £73.6bn, represented 30% of the total stock of consumer credit.
Published on 29 July 2015

Bankstats article

By Nik Lilovski



The Bank of England publishes monthly statistical data on lending to individuals in Bankstats, including breakdowns by the type of lender and product. The measure of consumer credit to individuals in the monthly release comprises credit card lending, overdrafts and other unsecured loans.

From the August 2012 release, monthly lending time series in Bankstats have excluded loans made through Government student finance schemes (“student loans”), in order to make the underlying trends of other components of consumer credit clearer. Series including student loans continue to be updated annually to reflect latest data from the Student Loans Company (SLC).

Student loans update

Data on student loans are provided and published annually by the SLC on a financial year basis. Following the publication of the figures for financial year 2014-15 by the SLC on 18th June 2015, the Bank’s lending to individuals series (including student loans) have been updated to March 2015.

Student loans increased by £11.4bn in the twelve months to March 2015 and, at £73.6bn, represented 30% of total consumer credit, which was £245.0bn (Chart A). Consumer credit excluding student loans increased by £11.1bn over the same period.

Monthly flows of total consumer credit (including student loans) averaged £1.9bn per month over the twelve months to March 2015 (Chart B). Flows of consumer credit (excluding student loans) were £0.9bn per month on average during the same period.

Chart C displays the annual growth rate of consumer credit including student loans up to March 2015 and excluding student loans up to June 2015.

To view all related charts, please download the full article:

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For questions relating to this article please contact dsd_ms@bankofengland.co.uk or call +44 (0) 20 3461 5356. 

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