Suggested reading: http://www.guardian.co.uk/education/2009/mar/24/nicholas-barr-graduate-tax[^], http://www.studentloan.co.uk/[^] Yes, it's a loan. However, as you rightly point out, the interest rate is very low. Also, you only have to pay it off when your salary exceeds a certain level. If you remain unable to pay it off for 25 years, it is written off. Ok, so I grant that, for someone who expects to earn above the threshold (as any development job should be), it will dent your future net income. But the safety net of the student loan still benefits you - it protects against job loss - and is much safer than other loans (e.g. mortgage). I hear your point about needing money from elsewhere; even in the days of means-tested grants, many parents were expected to cough up, and recently Universities have put a lot of effort into improving bursery schemes and such. As someone else said, it's an investment. Whether it's a worthwhile investment is up to you. Looked at financially (which isn't the only investment to consider) - the question is whether the cost will be offset by a higher salary. That's a difficult question to answer. One factor which comes to mind is the current state of the economy; jobs will be difficult to find now, but should be more readily available in 4? years time when you graduate. That said, as other posters have said, a degree isn't a free entry into a developer job. Companies will be looking for other experience. Consider defering University entry by a year and applying for a 1 year placement in a development company. That will give you very good experience for your resume, will boost your finances, will get a foot in the door at that company (e.g. for summer work, or for a permanent job), and will give you the opportunity to consider whether Uni is the right choice.