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Include student loans in national debt register, says BKR chief

Friday 07 December 2012

Information about student loans should be recorded in the national debt register BKR, the organisation’s director Peter van den Bosch says in an interview with the Financieele Dagblad.

This would give loan companies better insight into the financial position of new graduates which might, for example, have an impact on applications for a mortgage, Van den Bosch told the paper.

Van den Bosch told the paper he is extremely concerned about the mounting debts which students have, which will be made worse if the government goes head with plans to scrap the basic student grant as well.


‘Youngsters form a vulnerable group,’ he said. ‘The crisis means they will have to accept lower salaries and if they don’t mention their debt when, for example, applying for a mortgage, they could end up in severe financial trouble.’

A spokesman for the education ministry said there is no similarity between a student loan and a bank debt. Student loans carry modest interest rates and only need to be repaid when the person’s finances allow it, a spokesman pointed out.

The BKR lists credit agreements with banks, mortgage providers and other official credit agencies.

According to family spending institute Nibud, students will graduate with an average debt of some €17,500.

© DutchNews.nl

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Readers' comments (6)

student loans should be recorded in the national debt register, after all when they took out the loan/s they knew that it would have to be repaid. if they default on the S L that could become a habit later in life with further loans. With loans, comes responsibility; which seem to be lacking in today times not only with kids but adults.

By dee | December 7, 2012 10:48 AM

Of course student loans should be included in credit reports. Is it really possible to purchase a home and not meet the requirements to start to pay back one's student loans? Welcome to fairy-tale land! I wonder how many are in financial difficulty for exactly this reason! Alice in wonderland had a better grasp of reality!

By larry | December 7, 2012 1:24 PM

It depends. Until a certain point, the loans shouldn't be recorded, as it unnecessarily makes getting a home, starting your life, tougher. And when student grants get scrapped, the equivalent of this which will become a loan should be added to this limit.

However, when a student borrows too much, THEN it should get recorded. After all, you shouldn't borrow more than you need, just for luxury.

By Someone | December 7, 2012 9:40 PM

"When a persons finances allow it"

What a load of poo! Sorry to say it. But it is not that easy to even just ask to lower they payment amount. Especially if after a few years of working your salary had gone up.

They don't take into consideration the other loans you take out as you become an adult. So giving this image that this is such a softer" loan is ridiculous.

What they need to do is spell it to young people the consequences of taking a student loan at all.

By Baffled | December 8, 2012 2:36 AM

HOw about only recording it if students do not begin, and maintain, repayments for a decided fixed period?

Everyone needs an education to get by today. And it's unfair to begin adult life with the stigma of student loans to your name. If i didn't have this opportunity, I wouldn't have my home which i'm also fully repaying along with my student loans.

By Mel | December 8, 2012 3:49 PM

Why do I get the feeling that most of the people responding here are over the age of 50 and came of age during an era when a college degree wasn't necessary for employment or it was still relatively cheap? No mercy for the new generation and their ridiculous colleges debts = deplorable.

By B | December 10, 2012 1:10 PM

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