UK Loan

In the UK Student Loan entitlements are guaranteed, and are recovered using a means-tested system from the student’s future income. Student Loans in the UK can not be included in Bankruptcy, but do not affect a person’s credit rating because the repayments are recovered from the student’s future salary at source by the employer before any income is paid, similar to Income Tax and National Insurance contributions. Many students however, are struggling with debt well after their courses have finished
The level of personal debt in the UK has also risen astonishingly in recent years:
"Total UK personal debt at the end of February 2008 stood at £1,421bn. The growth rate increased to 8.9% for the previous 12 months which equates to an increase of £111bn.