When will your student loan be paid off?
Students are struggling to find out how much they can afford on their student loans and are left with huge gaps between how much the government will provide and how much it has left to cover.
Key points:The Government is still struggling to provide the full amount of money needed for a student loan repayment period, with a shortfall of more than €40,000.
It is not known how many of those who have had their student loan payments withheld will be able to make repayments in time for the end of the year, with the Government currently spending around €30 billion a year to pay back loans, the largest part of which is for those aged under 18.
The Government will spend the next six months meeting its targets to raise €60 billion by 2020.
This has been estimated to be the cost of the current €60bn of government spending to repay all the student loan debt owed to people on the scheme.
The figures also reveal how much of the debt is owed to students who have not yet graduated.
The amount of student loan owed by those with a student debt is currently estimated to reach around €50 billion, with another €30bn due to be paid by the end, the Government said.
This means that the Government will still be left with an outstanding amount of about €40 billion.
The €40bn shortfall is expected to grow by the year as it does not include the cost to the public purse of paying back the remaining €30.5 billion owed by people who have already graduated.
A total of around €36 billion in outstanding student loan debts will be paid down by 2027, with some €7 billion of the total estimated to have been paid down during the past 12 months.
The total debt currently owed by the public sector to cover its student loan repayments stands at €110 billion.
In terms of total public sector debt, the Public Service Commission estimates that €20 billion of this is owed by public bodies.
However, there are reports of some private companies being left with significant amounts of debt owing to them.
Last week, the Department of Social Protection announced that it was paying out €25 million to private businesses, and €12 million to the State’s private schools.
However the Government has said that it would not pay out more than half of this figure.
This was due to the fact that the total amount of the outstanding debt owed by private entities is estimated to amount to around €80 billion.
What you need to know about student loans: