Sources said that anyone earning more than £21,000 a year will face interest of about two per cent more than inflation on their debts. They will be able to borrow money to cover their tuition fees plus about £4,000 annually for living costs. Some graduates on the most popular courses at the best universities could leave university with debts approaching £50,000. It is expected that graduates will have to repay their loans at a rate of about nine per cent of earnings each year. The debts will only be written off after 30 years.