According to money charity Credit Action’s Student Moneymanual 2013, a first-degree, full-time undergraduate from England may accrue student loans of up to £43,500 over a three-year course wherever in the UK they study.

Students from Scotland, Northern Ireland and Wales who study in their home country, in contrast, can expect to leave with debts in the region of £22,000-£25,000.

As well as fees of up to £9,000, students from England get the lowest maintenance grants (the part of student financing which doesn’t need to be paid back).

As the grant is means-tested, the full amount is ear-marked for those from poorer backgrounds; many students may need to supplement their income from other sources.

“A degree is a fantastic investment, which can pay for itself in a number of ways including higher salaries and increased opportunities – but we want all students to be able to make a balanced decision about how much student loans may cost them, and to be aware of interest charges and repayments,” says Credit Action CEO Michelle Highman.

“There are arguments that you’ll never pay back your student loan. The chances are that, because of your higher graduate salary, you will. Do the sums for yourself, get educated about interest rates, and make an informed choice.”

The updated Student Moneymanual 2013, which has been made possible with funding from Santander, will be available for free online and in print from January: www.creditaction.org.uk/students.