Borrowing too easy for students

More and more students are borrowing money to finance their studies, not only are more loans taken out by students, but the amount borrowed has also increased considerably. The low threshold to apply for a student loan is said to be the basis for this.

Borrowing students to make ends meet.
Borrowing students to make ends meet.

Research by the Trade Union Federation for middle groups and higher personnel (MHP) and the Interurban Student Consultation (ISO) shows that students are increasingly borrowing money, but also increasingly borrowing money. Students who receive a performance-related grant increasingly supplement this with a student loan. In 2003 there were 62,500 students who borrowed, less than 6 years later this has risen to more than 100,000 students.

In addition to more loans, the amount borrowed has also exploded; from nearly US $ 8,000 in 2003 to US $ 12,523 in 2009. According to the investigative authorities, the low threshold for applying for a student loan is the cause of the growth and more information is needed, especially now that budget cuts are also starting to hit students in the wallets.

Earlier research by Statistics Netherlands on student loans shows similar developments.

Similar developments can be observed in America, American students are increasingly borrowing for their studies and often end up with tens of thousands of dollars in debt.

Published June 30, 2011 at 2:38 pm by the editors .

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