Hi,

I really cannot decide what I ought to do about my student debt owing to all the political uncertainty at the moment. I started my course in 2014 and am graduating next week. I have over £40,000 of debt and I know the interest rate is pretty high at 4.6% (generally more than I could get in savings!).

My problem is that I'm going to be earning £100,000 or so in 4 years time, with that amount increasing every year (I'm fortunate enough to be on one of the best graduate schemes in the City) - and therefore I will be a 'high earner' and I will pay back all of my loan by the time I'm 30 (I'm 21 now). That would not have been an issue normally but my worry is about Labour and promising to eliminate student debt. I was planning to pay off my loan quicker than was necessary owing to the interest I'm accruing but I now am hesitant to do this if Labour is going to wipe it anyway. I do not want to be hit with a double burden - having paid off all of my own debt and then being taxed ludicrous amounts to subsidise future students' tuition. The irony is I am from a 'poor' background, so on one hand I'd be classified as the type of student Labour is trying to help but on the other hand, my future income would class me as 'rich' - I am stuck in the middle.

I should also probably add that for the next 4 years my income will not be anywhere near the £100k mark and so my future higher earnings will coincide close to the next General Election. I have 2 more years of studying to go (fully funded by my future employer - I am going into law) and then 2 years as a trainee solicitor, where I will be earning £45-50k. I am just trying to plan ahead.

Thank you for any advice!

** Apologies if this kind of question has already been answered - I know about the general debate on repaying student debt in relation to generally saving instead towards a mortgage etc but my worry is specific to what Labour is proposing.