There is no relationship between student loans and household debt. Student loans are repaid on an income-contingent basis. We intend that graduates only pay 9 per cent. of their income beyond £15,000 per year. If it falls below £15,000, their repayments stop. Student loans are subsidised by the Government with no real rate of interest—so the burden does not increase, however long the repayment period. The Government propose to write off any outstanding student loan amount after 25 years.