The latest crop of A-Level students are getting ready to start university - but many are wondering how much their higher education will cost them.
Most degrees are funded by Government-backed student loans.
Government figures show that around £20billion is loaned to around 1.5million students every year.
These loans are then repaid, plus interest, when graduates start working.
But the way the loan repayments works is complicated.
How much you repay mostly varies depending on when you went to university and how much you earn.
Student loan debt repayments are often called a "graduate tax" for this reason.
There is a major change happening with student loans next year, as you will start to repay them with 9% interest if you earn £25,000 and above.
The repayment threshold is currently £27,285 - this applies to students starting universal this September.
The Mirror has made a calculator to help work out how much you might end up repaying for your student loan.
The cap on interest rates for student loans in England and Wales is being cut to 6.3% from September.
It was due to rise to 7.3% after the Institute for Fiscal Studies (IFS) warned students could end up paying up to 12% interest.
The interest rate on student loans is currently set at 4.5% and is calculated by adding 3% to the Retail Price Index (RPI).
The new lower figure affects students in England and Wales with Plan 2 (undergraduate) and Plan 3 (postgraduate) loans.
You’ll be on a Plan 2 repayment plan if you started an undergraduate course anywhere in the UK on or after September 2012.
The Department for Education (DfE) says graduates and current students will save hundreds of pounds each year by the cap being lowered.
It gives the example of a borrower with a student loan balance of £45,000.
The Government claims this person would reduce their accumulating interest by around £210 per month, compared to 12% interest rates.
This is on the total value of the loan, as monthly repayments do not change - only the interest rate.
However, the IFS has warned that the new lower cap still does "nothing at all to protect current students".
Ben Waltmann, senior research economist at the IFS, told the BBC : "Only the minority of, mostly high-earning, graduates set to pay off their loans in full will ever actually benefit from this.
"Importantly, this does nothing at all to protect current students from the rising cost of living."
Monthly student loan repayments are calculated by income rather than interest rates or the amount borrowed.
You will usually start repaying your loan at the start of the tax year after you finish or leave your course - but only once you start if you earn over the “repayment threshold”.
At the moment, all loans are written off after 30 years - but this is rising to 40 years for anyone starting university next September.
