The repayment threshold is expected to rise with average earnings so someone on an equivalent salary of £40k would be expected to pay back less in real terms th

The repayment threshold is expected to rise with average earnings so someone on an equivalent salary of £40k would be expected to pay back less in real terms than that calculation if wages rise above inflation. The amount you borrow is not a fake number, whether it is related to the course cost or not, just as the price of a car is not a fake number even if it was cheaper to produce. It also includes literal cash payments to you.