Finance experts have revealed the tricks and loopholes for how Britons can get rid of their student loans for good, after new figures revealed more than 61,000 people have debts of more than £100,000.

Data from the Student Loans Company (SLC) show that 1.8 million people owe more than £50,000, and 49 owe more than £200,000.

The largest loan balance in the whole country has reached £252,000, the BBC reports. 

Many graduate are facing increasingly high levels of debt on leaving university due to the end of maintenance grants in 2016. This means that as well as owing more than £9,000 a year in tuition fees, the poorest students owe a similar amount per year in maintenance loans.

It comes just two days before the general election, with The National Union of Students (NUS) branding it 'ridiculous' that none of the main parties are offering reform of student finance in the election campaign. 

Graduates currently pay nine percent of their earnings above the income threshold, which varies depending on the year of graduation, but interest applies to the entire balance of a student loan. 

But for graduates despairing over their spiraling loan balance, there are multiple ways to increase repayments or even have the loan written off altogether. 

Don't pay a penny - it will be written off anyway

Student loan repayments are only triggered over a certain threshold - depending on graduation year and plan - which means that some graduates will not earn a high enough salary to begin automatic repayments.

Those in lower paid jobs could therefore not pay any of their loan back, as all student loans are written off eventually anyway.

For most graduates, loans disappear 30 years after the first April they are due to repay, or when they turn 65.

Student loans are so common that they also rarely factor into credit scores or mortgage assessments, meaning having even a large debt is not necessarily a disadvantage. 

Sebrina McCullough, director of external relations at financial wellness platform, Money Wellness, said: 'Student loans are often the first type of borrowing people do. And they can be scary because it sounds like you're taking on a huge amount of debt. 

'But student loans are different from every other type of borrowing and shouldn't be viewed in the same light.

'The reality is that most people will have their student loan written off before they have finished repaying it. Student loans expire – also known as forgiven - after either 25 or 30 years, or once you turn 65 depending on the plan you're on. 

'You also won't be expected to pay back your student loan if you become permanently disabled, ill, or pass away. This is different from normal loans where the debt is passed onto your estate and must still be repaid.'

Become a doctor

As student loan repayments are calculated using a percentage of an individual's earnings over the repayment threshold - which varies from plan to plan - one of the main ways to get rid of a student loan is to simply pay it off.

This is far more likely to happen for those who enter high-paid professions or can increase their salary.

Those looking to become doctors, dentists or lawyers, as well as those in the finance industry, are therefore far more likely to repay their loans.

But any salary increase or promotion is bound to assist with repayments.

Accountant and financial advisor for Bountii Yiannis Zourmpanos told MailOnline: 'The key thing about UK student loans is that you repay based on your income, not how much you borrowed.

'Focusing on your career and earnings is much smarter than aggressively paying off loans. Treat the loan like a monthly tax deduction which is affordable based on your paycheck amount.'

Become a teacher

At the other end of the spectrum, graduates looking for a quick fix to student loan repayments may want to consider entering the teaching profession.

Many teachers can get their loan payments back for most of the academic year, meaning extra cash in the bank.

Secondary school teachers who spend at least 50 percent of their time teaching physics, biology, chemistry, computing or languages and are employed at an eligible state school can apply for refunds of all payments made from September each academic year.

And with a salary well below that of a doctor or lawyer, teachers can rest easy knowing very little of their debt will ever be paid off. 

Move abroad?

It's a common myth that moving abroad means student loans no longer have to be repaid - but this isn't true.

Automatic repayments will stop, but Britons still have to make repayments even if they have emigrated.

The repayment threshold is different depending on the country graduates are living in. 

Moving to Australia or the USA, for example, means graduates will have to earn significantly more to begin having to repay their loans.

But this is matched by a higher cost of living, particularly in cities, so is not something to be relied upon as a get-out clause by itself. 

Mr Zourmpanos said: 'Moving abroad, such as to Australia, doesn't eliminate your UK student loan obligations, but it does change the repayment process. 

'The key difference is that you'll be responsible for informing the Student Loans Company (SLC) about your move and providing evidence of your income annually. 

'You'll also need to make repayments directly to the SLC, typically in scheduled installments, rather than having them automatically deducted from your salary.

'It's crucial to stay in touch with the SLC and keep them updated about your circumstances to avoid potential penalties. The interest rate on your loan remains the same as if you were in the UK.

'Remember, the fundamental principle still applies: repayments are based on your income, not on what you owe. Moving abroad adds some administrative steps but doesn't change the nature of your loan repayment.'

Save wisely

As well as increasing earnings, savvy savers could also be at an advantage when it comes to student debt.

For those who want to pay off as soon as possible to ensure they keep more of their money in the long term, and avoid gaining more interest, saving up enough is key.

Whether it's through smart budgeting, saving accounts such as ISAs or investments, saving enough to pay off the debt early will avoid it spiraling out of hand. 

Budgeting well will also allow graduates to factor in their student loan repayments and feel more on top of their money. 

Make early repayments

Ms McCullough told MailOnline early repayments can make sense if graduates are forecast to repay all of their debt before it is written off.

But she added workers can change their minds about this if they see a sudden drop in income or are forced to stop working at short notice. 

She said: 'If you have no other debts and some spare cash, you could make additional repayments to pay off your student loan more quickly. 

'You should only do this if you can clear the debt before it is written off otherwise it's pointless. There are no early repayment penalties to do this. But for most people, it would be far wiser to put that extra money into high-interest savings.

'If you do choose to pay more and your circumstances change, such as your income drops, you should be able to get a refund for that tax year.'

Don't panic!  

Overall graduates are encouraged not to panic about the scale of their loans, as the majority of people will never pay the full amount back anyway.

For most workers, monthly repayments are taken from their salaries automatically and without issue, and are relatively small amounts when compared to tax deductions and national insurance. 

Mr Zourmpanos said: 'While the current interest rates seem high, it's important not to panic. 

'Student loans are written off after 30 years and the income threshold is very high before you start repaying. For many, the interest cost is irrelevant since they won't pay back anyway.'