'Misleading' student loans information left out examples of higher-salary repayments
Summary
A BBC review of more than 110 university websites in England found that 12 used only below-average salaries in worked examples of student loan repayments. A parliamentary committee chair said some information could mislead students, and the Department for Education said it would review its guidance.Key Facts
- England’s Plan 5 student loans require graduates to repay 9% of earnings above £25,000 for up to 40 years or until the loan is paid off.
- The UK average salary cited in the report was £39,039.
- The BBC found inaccurate information on some university websites about repayment starting salaries and repayment periods.
- Most university websites reviewed did not provide worked repayment examples, and many referred students to government or student finance information.
- The Department for Education website did not provide real-world repayment examples for Plan 5 loans.
- Someone earning £30,000 would repay £37.50 a month, while someone earning £100,000 would repay £562.50 a month.
- Northumbria University removed a comparison describing repayments as less than the cost of a daily coffee after the BBC contacted it.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
