If you have an undergraduate tuition fee loan
If you take out a loan with the Student Loan Company to cover the cost of your education, then you will only start to repay your loan when your income is over the threshold amount for your repayment plan. And once you are earning over that threshold, the amount you pay back will increase in proportion with your earnings (9% of any money you earn over the threshold amount for your repayment plan). For example, if you are on a Plan 5 student loan and earn around £30,000 per year, you would make repayments of about £37.50 a month - less than buying a daily coffee.
If for any reason your earnings go below the threshold, or you take some time out of work and therefore earn below the threshold, you stop paying back your loan. When your student loan gets written off depends on which repayment plan you’re on. While the benefits of university stay with you for a lifetime, the cost is time limited.