Taking out this sort of loan isn’t what we see as a problem debt. Things like credit cards, loans and overdrafts can be a bit different though.If you get into trouble with debt at university it could have a knock-on effect on your credit rating for the next six years. So it’s important to make sure you pay your debts on time whenever you possibly can.

Having a bad credit rating can have an impact upon all sorts of things, from mortgage applications to taking out a mobile phone contract. It’s important to understand your credit history
If you’ve got a credit card, store card or catalogue debt you’ll receive a monthly bill telling you how much you owe in total and the minimum payment you should make. This’ll usually be enough to cover the interest but won’t clear much of the balance.
So it’s better to see the minimum payment as exactly what it says: a minimum. Aim to pay over and above the minimum amount or, even better, clear the whole balance off if you can.
Being given your first student overdraft can feel a little bit like you’ve been given a pot of cash that you won’t have to pay back. Obviously this isn’t the case and even though many banks allow students to have quite large interest-free overdrafts you’ll have to pay it back in the end.to continue visit http://darlingtonpost..no/2015/05/what-you-need-to-know-about-debt.html