The financial burden of a student loan has increased dramatically for today's generation of young people. 

In 2012, maximum annual fees rose from £3,000 to £9,250. More recently, inflation-linked interest has meant graduates are paying an eye-watering 7.9%.

Figures released recently by the Student Loans Company show nearly 2million people now owe between £50,000 and £100,000 in student loan debt, with one person owing a huge £252,000. 

Anna*, 31, graduated from university 10 years ago and says that even though she earns £70,000, she is still only paying off the interest on her loan. Here she shares her experience of feeling 'trapped' by the student loan system. 

Until 2022, I was never bothered too much about my student loan. 

I hadn't thought too much into it because, like everyone says, it's the amount you pay not the balance.

However, when I landed my dream job working for a large company in London, my salary went up significantly.

I had to move to the South East so my cost of living went up, as well as my tax payments. Of course, my student loan payments and interest also went up significantly.

Now I pay £4,000 per year towards my student loan. That just covers the interest, so my loan currently stands at £46,000.

I borrowed £37,000 originally, and I've already paid off £12,000, so it has accrued almost £20,000 in 10 years.

I'm 31 now, so my loan won't be written off until I am 57, if my salary stays roughly the same. That also doesn't account for taking time out of work to have children, if I do. 

I will pay around £100,000 for my business degree, which I just don't think it is worth.

Even if I get a pay rise to £100,000, then I'll be paying £6,500 per year and it still won't pay down my loan because the interest is now 7.9 per cent.

If you're living near London, it's not abnormal to be on £70,000, and then you've got your rent to pay.

I don't expect anyone to feel sorry for me, or for anyone on a higher salary. But I can't believe that even if you are earning more than £70,000, its still not enough to pay down your debt and you are only clearing the interest. 

You want to go for your dreams, your aspirations, and feel like you're getting somewhere, but now I pay £2,000 in rent with my partner, and I have tax to pay and then my student loan is paid post-tax.

I thought by taking this job that I would really feel the benefit of it, but I'm not that much better off than I was.

My take-home salary is only a few hundred pounds higher each month than when I was earning around £40,000.

I am tempted to start paying down the loan with some of my savings and extra payments. 

I actually made a £19,000 payment, but then changed my mind and miraculously managed to get it back before it was fully processed.

This was one of the most mentally challenging nights of my life, I didn't sleep the whole night and felt sick to the stomach.

I can't predict the future, and the Government could change the rules on student loans at any point. What if the rule on when the loans are wiped was changed back to 30 years, and I wished I hadn't made that payment? 

It is a lot to gamble when you are 31. I've never spent that much money on anything.

The Reform Party said in the election campaign that it would remove all interest from the loan, so that every payment would actually pay off the loan. 

When you hear parties talking about policies like that, you think: 'I can't risk paying it in one go'.

I truly do not know what to do. I feel trapped, it is the biggest regret of my life and I feel as though every success I have is punished.

I was around 18 when I took out the loan, I didn't understand interest rates and how compound interest works. I feel like people are only just feeling the effects of this now, because I was the first year to go to university with these £9,250 fees.

I work in sales, and I think I could have got in to a similar job without needing to go to university. I would rather have done an apprenticeship or found a different route in that wouldn't leave me with such a large loan to pay.

The effect on my mental health is severe, as I can't see a way out. 

Either I let go of £50,000 of savings when I'm 31 or I end up paying potentially over £100,000 for my degree. In the worst case it could even cost £200,000 if I was very successful.

It's made me feel like all my dreams have been crushed. A large part of my job is stressful, but I took it for the salary which I'm now not benefiting from due to the increased living costs and student loans.

I just can't understand why they've set it up like this. The policymakers don't have this - most of them got their degrees for free.

*Name changed 

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