Student debt can include tuition fee and maintenance loans issued by the government, personal or bank loans taken out by the individual to help pay towards their course or living fees, or even personal spending and accounts that accumulate throughout the three years. Loans issues from the government are transferred to students directly, and/or to the university/institution to pay for course tuition fees and living expenses ranging from rent payments, to general household bills. These types of loans can be means-tested, allocated, and then paid back …show more content…
However, these decisions will be dependent on a candidate-by-candidate basis. Lastly, credit cards, overdrafts and credit accounts which can be used to ease living and shopping costs can add, or even multiply a student's debt level.
One of the main reasons why the university experience may seem one of the most expensive to young people, is due to student's not being able to work full-time whilst studying, paired with living in halls or near university where rents are generally high. These bills tend to put strain on other financial areas, such as food, household bills, travel, rent and even leisure areas, like going out or personal purchases.
It is easy to succumb to material needs and pressures during university and end up spending more money than you plan or even able to afford to. When this downward spiral begins it is vital to stop unnecessary spending because the damage at the end will be even more difficult to