Original post by E13Paying back the full loan is relatively unlikely, but I did some calculations and if you earnt the median graduate salary for your starting salary - the median for all graduates old and young so that would take into account promotions etc - and then your salary increased in line with inflation, then you would pay back £78,648.94 over the 30 years, but you still wouldn't have paid back your entire loan - the government would have to write off £17,344.20. This assumes a starting loan of £40,000 at the end of university - in all likelyhood it would be higher than this, and the median graduate salary (according to government figures) of £31,000. So although most people won't technically pay back the loan in full - you would have to have a starting salary of £35,226 to do that using the same calculation methods. I was in correspondance with the universities minister over this, and he says my calculations are correct. So some students will pay back more than double what they orinigally took out, yet the government will still have to write off some of their loan.
I dunno if any of that is any use or makes any sense, but I've got the spreadsheet I used to do the maths if you want to try putting any other figures in.