I don't think that's quite true. My loans are on the pre-1998 system for which this is true. For loans issued since then the earnings threshold is lower (around £17,000 I believe for '98-'12 loans). The flipside is that with the old system the repayment amounts were fixed and dependent on the amount you had borrowed, so once you get over the earnings threshold you have to pay the full repayments and the more you borrowed the more you pay. With the newer system, the threshold is lower, but the amount you have to pay increases proportionally with your earnings over the threshold and doesn't depend on the amount you borrowed (although of course that will affect the term of the payments). Also I don't think they are written off after 40 years anymore. I'm not 100% certain on all of this but I think it's broadly correct. But I definitely agree that nobody should be being bankrupted by either system.