Fewer students are taking out bigger loans123RF Fewer students are borrowing bigger sums. Fewer students took out student loans in the year to June 30, but they borrowed more on average, according to the scheme's annual report. Nearly 177,000 students borrowed an average amount of $9053 compared to the 182,500 that borrowed an average of $8888 each last year. READ MORE:* Students reveal loan mistakes and lessons* How did your student loan affect you? * Tertiary students' loans and allowances will be lifted from January 1, 2018People repaid $1.27b during the year, up $60 million.

Source: Stuff December 20, 2017 04:30 UTC