For those in higher education, student loans are often the main source of income for both the paying of tuition fees and for covering living costs. But with tuition fees on the rise, cost of living on the increase and more and more people going to university, the UK’s outstanding loan balance is rocketing.
The costs associated with going into higher education are constantly increasing. Whether that’s tuition fees, rental fees or simply the cost of living, going to university is beginning to become prohibitively expensive for many young people.
Being a university student can be an expensive undertaking, with ever increasing tuition fees and living costs meaning most will need to take out a student loan. If you complete your studies, then with a little luck and hard work, you have a good chance of being able to earn enough to be able to pay back your loans. If you do not end up earning enough, then eventually they will be written off. However, what if you don’t complete your studies? Some people find themselves in debt to Student Loans UK, because they received student finance, but then suspended or left their studies.
