These are administered by the Student Loan Company , on behalf of the government. Within this limit, you can decide how much you want to borrow. The interest rate is linked to the rate of inflation, which means that the amount of money you pay back is equivalent, in real terms, to the amount you borrowed. Repayment begins in the April after you graduate, although you can defer repayments if your income is insufficiently high. Some students may be eligible for a Career Development Loan .
Loans are also available in the form of student overdrafts from banks.
Whilst banks seem increasingly willing to extend large overdraft facilities to students, you should try to control this. Many students have to drop out of their courses through heavy debt.