Thursday, 25 August 2020 12:31 PM

Students borrow more for a luxurious and relaxed life

Leiden - A new Ipod, on winter sports, a few times a week to the pub or nice clothes. While consumer confidence is on the decline, students are increasingly borrowing to be able to live lavishly.

A quarter of all students in the Netherlands have a loan with an average student debt of fifteen thousand US dollars. "I am young now and should be able to party as long as I still can, I also need a mobile phone at the moment and I am also in need of the skiing holiday that I recently booked," explains second-year PABO student Floortje Koster. "I want to be able to live in luxury now and not wait until later." The student currently has an outstanding loan of ten thousand US dollars and, like many other students, thinks she will pay off the debt after the study. Many forget that interest is also rising.

The average student debt has increased by more than 80 percent since 2004 and Nibud believes that the increase will continue in the coming years. The National Student Union (LSVb) is also concerned about the borrowing behavior of students. Specific research into the reason for student loans has not yet been done, but the most common reason is a 'luxurious and relaxed life'. The new generation of students are real bon vivants and take out loans easily.


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