It's not, and honestly, I'm only in it for the BSc certificate at the end of the day. That should give me a competitive playing field for an entry-level job now I'm competing with the other thousands of people with degrees.
The experience though, and the quality of my life and friends I have made, basically the intangible stuff, is so worth it though. The independence you get, and the fact it's probably the only time and place in your life that offer something unique like that, is in my opinion worth it. The friendships I have made and the fun I have had, which has ultimately built me as a person, is worth it overall for me.
If the SFE rule and regulations weren't around, I couldn't afford it. But I see the loan system being based around your future earnings and not standard monthly interest + principle repayments as worth it when I consider what I have learnt, what I have experienced and how it's the only time of my life I'll get this experience.