Here's a good impartial look from somebody who understands debt:
"Many people worry that with the much higher levels of student debt, cash will be too tightly squeezed to live on once post-2012 starters graduate. Yet actually, today's university starters will have MORE cash in their pockets each month than those students who've just graduated. Graduates who started their course before Sept 2012, repay 9% of everything earned above £15,795. Those starting in 2012 and beyond see that increased to £21,000. That means those earning above the £21,000 threshold have £470-a-year more in their pockets than now."
"The maximum possible loan combining tuition fees and maintenance is £16,675 a year; £50,000 over a three-year course. This is a frightening amount, and indeed many are frightened of it. Yet it's important to not just jump at this figure, but look at it in regards to how much of that you'll actually have to repay. In fact, when you examine this debt, it's far more like an additional tax than a loan for the following reasons:
It's repaid through the income tax system
You only repay it if you earn over a certain amount
The amount repaid increases with earnings
It does not go on credit files
Debt collectors will not chase for it
Bigger borrowing doesn't increase repayments
Many people will continue to repay for the majority of their working life"