Hi,
Firstly, i know it might feel bleak to you at the moment but its all going to get better for sure, it really is so try and relax, its just not that big a deal. In the future you will look back and laugh at these times
Without knowing what type of course you are doing its hard to advise but perhaps what you should do is look at all options here:-
1. Deferring - I kind of think you can rule that out unless you need the year off for mental health reasons which could be a factor but you will complete year one shortly, get that finished and secure the 120 credits. You then have a long break until you would start again in Sept/October anyhow. The flat should not be a consideration, you may be happier in student halls with more people? but on balance i don't think its deferring you want but if it is it could be arranged.
2. Changing University - If you really hate where you are look for university courses elsewhere that you think you would be more suited to and phone the administrations department of that University and ask them how to go about a transfer to them. IF you have finished year one where you are and its a similar course they may accept your 120 credits and you continue with year two with them, rather than start again but either way its a fresh start. Not sure why you can only go to local ones, you can go anywhere you want.
3. Student debt - just dont give that a second thought, seriously think of it as grad tax when you actually start work. Personally i really get fed up of politicians in the UK frightening students for political agenda about it. Its not debt like having a mortgage or a car loan, you will likely never pay it back, its not on your credit score, if you never pay a bean there is no action and what you repay back when you actually start working is so minimal you will barely notice it - so stop fretting about that, doesn't matter if your student debt is 5k or 50 million you will repay the same amount out of earnings when you start work providing you earn enough, forget it.
4. I don't know what your relationship is like with your mum or dad, but if you were my son or daughter i would be telling you to come home. If you tell them how unhappy you are, they wont want that for you. You wont be known as a drop out, jeeze it is just not that big in the grand scale of things. Also, depending on the course you could do year two and three using the Open University and do it online from home if you would be happier back at mum and dads than away feeling isolated. If you did that the OU would want a transcript of the units you have taken from your current University and would then advise what credits to transfer over, that might work better for you
You could really do with talking to someone, a friend, sibling, mum or dad. If you cant, draw up a list of options and consider what's best for YOU and don't worry. It will all work out, you see.
Sending you big hugs, good luck