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| Version 1 | Version 2 |
|---|---|
| Tuition fees: Five myths busted | Tuition fees: Five myths busted |
| (35 minutes later) | |
| Theresa May is launching an independent review of tuition fees to ask whether there is sufficient value for money for students at UK universities. | Theresa May is launching an independent review of tuition fees to ask whether there is sufficient value for money for students at UK universities. |
| Almost all courses are charged at the maximum £9,250 per year in England, although that differs in Scotland, Wales and Northern Ireland. | Almost all courses are charged at the maximum £9,250 per year in England, although that differs in Scotland, Wales and Northern Ireland. |
| From the perks of studying abroad, to being able to escape the monthly payments, there are lots of myths about tuition fees. | From the perks of studying abroad, to being able to escape the monthly payments, there are lots of myths about tuition fees. |
| Newsbeat's taken a closer look. | Newsbeat's taken a closer look. |
| Incorrect. | Incorrect. |
| Your student debt sits in an account with the Student Loan Company accruing interest until you've paid it off. | Your student debt sits in an account with the Student Loan Company accruing interest until you've paid it off. |
| If that is £100 debt or £100,000 debt, you'll still only be required to pay the same amount each month. | If that is £100 debt or £100,000 debt, you'll still only be required to pay the same amount each month. |
| And the amount depends on how much you earn. | And the amount depends on how much you earn. |
| Students who started uni from September 2012 pay 9% of their earnings over £21,000, although that threshold is increasing to £25,000 in April 2018. | Students who started uni from September 2012 pay 9% of their earnings over £21,000, although that threshold is increasing to £25,000 in April 2018. |
| Based on the new £25,000 threshold, that works out as approximately £37 per month if you're earning £30,000 - regardless of how much you owe in total. | Based on the new £25,000 threshold, that works out as approximately £37 per month if you're earning £30,000 - regardless of how much you owe in total. |
| False. | False. |
| After 30 years student loan debt is written off, regardless of how much is left to pay. | After 30 years student loan debt is written off, regardless of how much is left to pay. |
| There is some truth to the "myth" that you may never pay it off entirely though. | There is some truth to the "myth" that you may never pay it off entirely though. |
| According to Money Saving Expert you'd have to have a starting salary of £45,000 in order to be likely to fully repay your student loan. | According to Money Saving Expert you'd have to have a starting salary of £45,000 in order to be likely to fully repay your student loan. |
| That's "borrowing £9,000 for fees & £8,200 living costs per year, so £51,600 in total. With 3% inflation & graduate earnings growing at inflation + 2% per year". | That's "borrowing £9,000 for fees & £8,200 living costs per year, so £51,600 in total. With 3% inflation & graduate earnings growing at inflation + 2% per year". |
| False. | False. |
| The amount you pay back is based on your earnings and is different for each country you live in. | The amount you pay back is based on your earnings and is different for each country you live in. |
| So you should get in touch with the Student Loans Company if you intend on moving abroad for more than three months. | So you should get in touch with the Student Loans Company if you intend on moving abroad for more than three months. |
| They will calculate how much you should be paying back based on your prospective earnings. | They will calculate how much you should be paying back based on your prospective earnings. |
| So bad news, moving abroad won't free you of your student debt. | |
| There's also a few caveats to this one. | There's also a few caveats to this one. |
| The Scottish government covers tuition fees for Scottish and European Union students - excluding those from England, Northern Ireland and Wales. | The Scottish government covers tuition fees for Scottish and European Union students - excluding those from England, Northern Ireland and Wales. |
| So in short, if you live elsewhere in the UK you'd still have to pay if you study in Scotland. | So in short, if you live elsewhere in the UK you'd still have to pay if you study in Scotland. |
| It's a little different in Wales and Northern Ireland too. | It's a little different in Wales and Northern Ireland too. |
| When annual tuition fee caps were upped from a little under £4,000 to £9,000, the Welsh government said they would pay the difference for Welsh residents at UK universities. | When annual tuition fee caps were upped from a little under £4,000 to £9,000, the Welsh government said they would pay the difference for Welsh residents at UK universities. |
| And Northern Irish residents studying in NI pay less than £4,000 per year too. | And Northern Irish residents studying in NI pay less than £4,000 per year too. |
| Everyone else has to pay the full amount. | Everyone else has to pay the full amount. |
| Maybe. | Maybe. |
| Student loans aren't marked on your credit file, so they don't have the same impact as other loans and debts. | Student loans aren't marked on your credit file, so they don't have the same impact as other loans and debts. |
| But mortgage lenders will do an affordability test which takes into account all outgoings each month - including student loan repayments. | But mortgage lenders will do an affordability test which takes into account all outgoings each month - including student loan repayments. |
| So that could result in you being denied a mortgage. | So that could result in you being denied a mortgage. |
| Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here | Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here |