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Debt help for the huge financial burden of student loan debt

Student loan debt in the UK today tops £100bn – with the average amount owed standing at £32,220. Given this level of debt, more graduates are seeking debt help than ever before.

Student debt involves a loan that is taken out to cover the costs of full-time education. This may be used to pay tuition fees, accommodation and living expenses.

So-called ‘old style loans’ are those that apply to courses that began prior to 1998. In this instance, you’ll deal with Erudio Student Loans, Honours Student Loans or Thesis Servicing.

‘New style loans’ apply to courses that began after 1998 (this type of loan is also called an income-contingent loan). With ‘new style loans’ the repayments are deducted directly from source (e.g. your wages or along with your self-assessment income tax payment if you’re self-employed).

Worried about debts that won't go away?

Debt help tips for tackling student loan debt:

  • Start by confronting how much you owe and regularly log into your account to stay up to date with your balance.
  • Create a budget to understand your financial circumstances, and your income and outgoings.
  • If you’re struggling to repay your student loan, seek debt help from an agency experienced with this form of debt.

Ready to seek debt help? Talk with the National Debt Help team on 0800 002 9051.

*An Individual Voluntary Arrangement (‘IVA’) is subject to the customer meeting qualifying criteria and gaining creditor acceptance. Monthly IVA payments include fees and may differ to the example provided, based on the assessment made of your own personal circumstances – these fees will be clearly explained to you in writing by your IVA company. Debt write off amounts are subject to creditor acceptance and vary by individual customer based on their own financial circumstances, and are applied upon successful IVA completion.

Substantiation example, Someone owes £60,000, they pay £100 over 60 months which equals £6000, write off amount would be £54,000 which is 90% of total debt level. Upon submitting your details on this website we will pass your details to one of our approved partners as this website does not give any advice.

Free debt counseling, debt adjusting and credit information services are available from the Money Advice Service.

National Debt Help
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