The current threshold depends on what type of student loan was taken out originally, but most will begin to pay 9% on any earnings over £25,000.

The national minimum wage for over 21s is increasing by 6.7% from April, reaching a record high of £12.21 per hour. Although a full-time position would not drag anyone into repaying their student loan, working regular overtime would.

Robert Salter, director at Blick Rothenberg said: ‘Any graduate with a plan 1 student loan working 42 hours per week over the course of the tax year would earn approximately £26,660 per annum, and this figure ignores any extra payments they might receive such as overtime, which would also be earnings for student loan purposes.’

Ac