Escalating debt among Swedish students

New figures have shown that students are now SEK 1 billion (EUR 121 million) in debt to the Swedish Enforcement Authority (Kronofogdemyndigheten).

Officials from the CSN student loan provider told The Local last week that there are now around 90,000 students that are being perused by Kronofogdemyndigheten, and that around 28 percent of all students that owe money received reminder notices for late payments last year.

Meanwhile, experts reiterate that loans must be carefully mamanged, although other expenses can significantly boost the cost of education.

Ylva Yngveson said on behalf of Swedbank, “The most expensive item is usually the home. Therefore, it is important that you have a good social network,” the Dagens Nyheter news agency reports.

She went on to say that significant amounts of money can be saved by students who bring their own lunch, share accommodation with roommates and cut down on expensive clothing and haircuts.

She added, “It’s a good thing to keep an eye on the economy – especially when you leave home for the first time and manage your own finances. Picking up such habits early helps in the future.”