So, on that topic...
College Debt and You
To simplify matters for this quest, I am going to say that the money you owe to the Bright College works on the same basis as student loans in the UK do - namely, that a percentage of your paycheque goes to paying them off, and only a minority of wizards actually manage to pay back the entire thing. The more you make, the greater the percentage paid, but if you're not earning above a set amount then you don't make payments. There will be no legbreakers coming around to recoup your cash, and the money marked on your character sheet is effectively just 'what you have after the tithe is paid'.
You are, of course, expected to do a certain amount of work per year, because tithe payments on those jobs is how the College supports itself. If you don't find an employer capable of meeting the general target in your tithe payment, then the College will arrange work for you, which for a junior bright wizard is likely to be a military deployment with a state army. More senior wizards might meet their obligations through teaching, but you are not so wise or respected yet to make that a viable option. If you do meet your target, then the rest of your time is yours to do with as you please, within the bounds of acceptable behaviour as marked out by the Articles of Magic.
Therefore, Erika is always going to be on the lookout for paying work, the more money offered the better. More money means an easier time meeting your obligations means more free time and a lower chance of getting assigned to scutwork. She will not, however, ever have to worry about losing all her cash and winding up penniless in the gutter somewhere.