Martin Lewis: Time to stop calling student loans a loan - Telegraph Martin Lewis must be a very trusting soul. Who really believes that once a bankrupt government has a few million fish on the hook for £50k+ they're not going to start playing around with the student loan interest rates and earnings thresholds to maximise revenue? Then there is the compound interest.... Interest is charged on the loan at £2,663.10 for the first year, if you cannot afford to make repayments then it will be added to your loan and further interest is charged on the interest. £40,350 - Graduation £43,013 - 1 Year after Graduation £45,852 - 2 Year after Graduation £48,878 - 3 Year after Graduation £52,104 - 4 Year after Graduation £55,543 - 5 Year after Graduation £59,208 - 6 Year after Graduation £63,116 - 7 Year after Graduation £67,282 - 8 Year after Graduation £71,722 - 9 Year after Graduation £76,456 - 10 Year after Graduation Getting on for eye watering levels of debt. Of course there is the fact the debt is wiped after 30 years and student's pay nothing (currently) until their gainful employment garners a salary of >£21,000. Even so inflation will ensure most of them do...... And then there is this... Student loans: Nearly half EU students 'fail to repay loans' - Telegraph Make of that what you will.