According to various sources, the tuition fee loan is wiped out after 25 years - anything you haven't yet paid back is written off.
You are taxed 9% per year on everything you earn over £21,000
If you earn £30,000 per year, you will be taxed 9% of £9,000, which is £810.
Theoretically, if you walked straight into a £30,000 a year job straight after graduation (obviously in reality, your starting earnings will be lower than this) then you will pay back £810 a year for 25 years, which according to my maths is £20250 in total. Seen as tuition fees are £27000, hardly anybody will pay the full amount back?
Have I made a massive error here, or is this totally correct?