All over the country, students are preparing for the new Academic Year. Many of them will be starting University for the first time and face adjusting to University life and coping with their own finances for the first time in their lives. After the euphoria of exam results comes the reality. Student debts are something to be faced for a long time, even if they don't attract interest for the time being. They'll still need to be repaid in the end.

Most students, who took out loans after 1998 will be delighted to see their loan interest set at zero per cent. Some even luckier ones who achieved their loans before that date will have their interest rate reduced to -0.4 per cent. This means that even if no payment is made towards paying off their loan, it will have dropped by the end of the academic year.
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