Students have to take out loans for fees and living costs. Fees are now up to £9250 per annum.
Most of them also take out a loan for living costs. The maximum loan for living costs is £8200 per annum outside London and £10,702 in London. Halls of residence fees swallow up most of the loan.
Until September 2016, non repayable grants were available on a sliding scale for students from poorer households, but the Conservatives abolished these, so students have to take out a loan for the whole amount.
That means that the loan is £17,450 per annum or £52,350 for a three year course. Any postgraduate course, such as teacher training, is another £17,450.
The catch is that interest is charged on the loan from the day the money is lent at the rate of CPI plus 3%, which means that by the end of the course (and even before they've begun to earn anything) the debt will be considerably higher than the original loan.
When people claim that students can work their way through university, they're living in the past. It really isn't possible to earn enough to do that now.
The majority of money lent will end up being written off. Meanwhile, student loans provide income in the form of interest payments to those who lend the money, which is what it's really all about.