More needs to be done to ensure the student loan system works efficiently so that undergrads aren't left without financial support, according to a financial group.

It was recently revealed that close to 75 per cent of universities have had to provide emergency funding to the students still waiting for their loans to come through and Johnny Rich, editor of the group, commented that more needs to be done to help them.

He stated that currently the system is too complicated - which may have led to the delays in funding - and that this may encourage people to go elsewhere for their studies.

"A lot of the roles for non-graduates will go to other countries because they can do it more cheaply," he said.

He added that people may be put off studying if it becomes too expensive for them, which could lead to more students having to borrow loans from elsewhere, to ensure they can educate themselves to the highest possible standard.