Those who try at university and get a decent-paying job that allows them to reach the threshold to pay back their loans should not be punished. Currently, the interest rate can be as high as 4.5%. For a total student loan debt of £38,298, you might have to pay a minimum of £1,723 a year, just to keep the total debt from rising. This risks pressuring people into finding ways to avoid declaring incomes, which could negatively affect the economy.